Horizon Wealth Management LLC Takes Position in NIKE, Inc. (NYSE:NKE)

Horizon Wealth Management LLC acquired a new position in NIKE, Inc. (NYSE:NKE) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,431 shares of the footwear maker’s stock, valued at approximately $215,000.

Several other large investors also recently modified their holdings of the business. Annapolis Financial Services LLC increased its holdings in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares during the last quarter. Transcendent Capital Group LLC increased its stake in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after buying an additional 200 shares during the last quarter. VitalStone Financial LLC raised its holdings in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC boosted its stake in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new position in NIKE during the 4th quarter worth $42,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Up 2.2 %

NIKE stock opened at $83.94 on Thursday. The firm has a market cap of $126.70 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 1.96 and a beta of 1.02. The firm has a fifty day moving average price of $82.28 and a two-hundred day moving average price of $85.40. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last issued its quarterly 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. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the business posted $0.94 EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, analysts forecast that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.76%. NIKE’s payout ratio is 39.68%.

Analyst Ratings Changes

Several brokerages have recently commented on NKE. StockNews.com cut shares of NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Oppenheimer restated an “outperform” rating and set a $120.00 price objective on shares of NIKE in a research note on Friday, June 28th. Stifel Nicolaus lowered their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Wells Fargo & Company lifted their price objective on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Finally, Morgan Stanley raised their price target on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.50% of the stock is owned by company insiders.

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.