NIKE, Inc. (NYSE:NKE) Holdings Raised by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 40.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,537 shares of the footwear maker’s stock after purchasing an additional 3,036 shares during the period. Avidian Wealth Enterprises LLC’s holdings in NIKE were worth $797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Kentucky Trust Co acquired a new position in NIKE in the fourth quarter valued at approximately $72,000. Certuity LLC raised its position in shares of NIKE by 47.8% during the 4th quarter. Certuity LLC now owns 12,877 shares of the footwear maker’s stock worth $974,000 after purchasing an additional 4,165 shares during the period. Sather Financial Group Inc lifted its holdings in shares of NIKE by 6.3% in the 4th quarter. Sather Financial Group Inc now owns 469,459 shares of the footwear maker’s stock worth $35,524,000 after purchasing an additional 27,834 shares during the last quarter. Carnegie Lake Advisors LLC boosted its position in NIKE by 93.1% during the 4th quarter. Carnegie Lake Advisors LLC now owns 36,985 shares of the footwear maker’s stock valued at $2,799,000 after purchasing an additional 17,835 shares during the period. Finally, Essex Financial Services Inc. grew its stake in NIKE by 43.0% during the 4th quarter. Essex Financial Services Inc. now owns 6,397 shares of the footwear maker’s stock worth $484,000 after buying an additional 1,925 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 1.4 %

Shares of NYSE:NKE opened at $72.31 on Thursday. The firm has a fifty day moving average of $74.80 and a two-hundred day moving average of $78.08. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $107.34. The firm has a market capitalization of $106.96 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Analysts Set New Price Targets

NKE has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Robert W. Baird lowered their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. JPMorgan Chase & Co. cut their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. UBS Group reissued a “neutral” rating and issued a $73.00 price target on shares of NIKE in a research note on Thursday, December 26th. Finally, Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and cut their price objective for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

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.