NIKE, Inc. (NYSE:NKE) Shares Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its position in NIKE, Inc. (NYSE:NKE) by 61.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 10,238 shares of the footwear maker’s stock after acquiring an additional 3,883 shares during the quarter. Axxcess Wealth Management LLC’s holdings in NIKE were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Empowered Funds LLC increased its position in NIKE by 10.7% in the 3rd quarter. Empowered Funds LLC now owns 23,214 shares of the footwear maker’s stock valued at $2,052,000 after acquiring an additional 2,243 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of NIKE by 4.5% during the third quarter. Thrivent Financial for Lutherans now owns 66,417 shares of the footwear maker’s stock worth $5,875,000 after purchasing an additional 2,843 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in NIKE in the 3rd quarter valued at $401,000. Strategy Asset Managers LLC raised its position in NIKE by 30.1% during the 3rd quarter. Strategy Asset Managers LLC now owns 4,005 shares of the footwear maker’s stock worth $354,000 after buying an additional 927 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of NIKE by 39.6% in the third quarter. Advisors Asset Management Inc. now owns 48,282 shares of the footwear maker’s stock valued at $4,268,000 after acquiring an additional 13,689 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the transaction, 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 position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

NIKE Price Performance

NKE stock opened at $71.61 on Friday. The stock has a market capitalization of $105.92 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. 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 52-week low of $68.22 and a 52-week high of $101.92. The stock’s fifty day simple moving average is $74.77 and its 200-day simple moving average is $77.56.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period last year, the company earned $0.98 EPS. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is currently 49.38%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Barclays reduced their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Evercore ISI lowered their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and upped their price target for the stock from $75.00 to $115.00 in a report on Monday, February 24th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.54.

NIKE Company 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.