Wealthspire Advisors LLC Boosts Stock Position in NIKE, Inc. $NKE

Wealthspire Advisors LLC raised its holdings in NIKE, Inc. (NYSE:NKE) by 6.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,456 shares of the footwear maker’s stock after purchasing an additional 2,148 shares during the period. Wealthspire Advisors LLC’s holdings in NIKE were worth $2,590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of NIKE by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 113,823,785 shares of the footwear maker’s stock valued at $8,086,042,000 after purchasing an additional 672,705 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after buying an additional 20,688,013 shares during the last quarter. Flossbach Von Storch SE raised its stake in NIKE by 9.5% during the second quarter. Flossbach Von Storch SE now owns 11,265,390 shares of the footwear maker’s stock worth $800,293,000 after acquiring an additional 978,771 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in NIKE by 3.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 9,507,250 shares of the footwear maker’s stock worth $603,445,000 after acquiring an additional 301,497 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on NKE. UBS Group set a $71.00 target price on shares of NIKE and gave the stock a “neutral” rating in a research report on Friday, September 19th. Morgan Stanley set a $72.00 target price on NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Stifel Nicolaus set a $68.00 price target on NIKE and gave the company a “hold” rating in a report on Wednesday, October 1st. Finally, Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $82.24.

Insider Activity

In related news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $64.80, for a total value of $5,577,854.40. Following the completion of the sale, the chairman directly owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. This represents a 11.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $62.79 on Thursday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average of $67.82 and a two-hundred day moving average of $68.85. The company has a market capitalization of $92.81 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 2.41 and a beta of 1.29.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 EPS. As a group, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.