NIKE, Inc. (NYSE:NKE) Shares Acquired by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 40.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,537 shares of the footwear maker’s stock after acquiring an additional 3,036 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in NIKE were worth $797,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teachers Insurance & Annuity Association of America purchased a new position in shares of NIKE during the 3rd quarter worth $30,000. Caitlin John LLC increased its stake in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in NIKE during the fourth quarter worth about $28,000. Dunhill Financial LLC boosted its stake in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in NIKE in the 3rd quarter valued at about $52,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Up 1.4 %

Shares of NYSE NKE opened at $72.31 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $107.34. The stock’s 50-day simple moving average is $74.80 and its 200-day simple moving average is $78.08. The firm has a market cap of $106.96 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the business earned $1.03 EPS. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NKE shares. Stifel Nicolaus cut their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. cut their price target on shares of 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 reiterated a “neutral” rating and issued a $73.00 price target on shares of NIKE in a report on Thursday, December 26th. Royal Bank of Canada dropped their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Finally, Evercore ISI reduced their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $88.62.

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.