NIKE, Inc. (NYSE:NKE) Shares Purchased by Diversify Wealth Management LLC

Diversify Wealth Management LLC lifted its position in NIKE, Inc. (NYSE:NKE) by 5.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,046 shares of the footwear maker’s stock after acquiring an additional 829 shares during the period. Diversify Wealth Management LLC’s holdings in NIKE were worth $1,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Bristlecone Advisors LLC boosted its stake in shares of NIKE by 14.3% in the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after acquiring an additional 11,665 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its stake in shares of NIKE by 44.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock worth $17,159,000 after acquiring an additional 60,008 shares during the last quarter. Lafayette Investments Inc. boosted its stake in shares of NIKE by 90.7% in the third quarter. Lafayette Investments Inc. now owns 46,097 shares of the footwear maker’s stock worth $4,075,000 after acquiring an additional 21,922 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after acquiring an additional 9,689 shares during the last quarter. Finally, FORA Capital LLC purchased a new position in NIKE during the first quarter worth approximately $3,412,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on NKE. Evercore ISI reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Morgan Stanley lifted their price objective on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Sanford C. Bernstein reduced their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Telsey Advisory Group reduced their price objective on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their price objective on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $96.56.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

NIKE Trading Down 2.5 %

NKE opened at $76.43 on Thursday. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The stock has a market capitalization of $114.60 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 1.90 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The business has a fifty day moving average price of $82.37 and a 200 day moving average price of $84.67.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.76 earnings per share for the current fiscal year.

About NIKE

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.