Empowered Funds LLC Purchases 8,206 Shares of NIKE, Inc. $NKE

Empowered Funds LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 198,425 shares of the footwear maker’s stock after purchasing an additional 8,206 shares during the period. Empowered Funds LLC’s holdings in NIKE were worth $14,096,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in NIKE by 0.6% during the second quarter. Vanguard Group Inc. now owns 113,823,785 shares of the footwear maker’s stock worth $8,086,042,000 after buying an additional 672,705 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after buying an additional 9,043,180 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Flossbach Von Storch SE increased its holdings in shares of NIKE by 9.5% during the 2nd quarter. Flossbach Von Storch SE now owns 11,265,390 shares of the footwear maker’s stock worth $800,293,000 after acquiring an additional 978,771 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of NIKE by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,507,250 shares of the footwear maker’s stock worth $603,445,000 after acquiring an additional 301,497 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the transaction, the director directly owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This trade represents a 308.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.80% of the company’s stock.

NIKE Stock Down 0.6%

Shares of NKE opened at $62.55 on Wednesday. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The firm’s 50 day moving average is $68.05 and its 200-day moving average is $68.89. The stock has a market capitalization of $92.46 billion, a PE ratio of 32.08, a P/E/G ratio of 2.41 and a beta of 1.29. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 earnings per share. Equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NKE. Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a $115.00 target price on shares of NIKE in a report on Monday, September 29th. Piper Sandler set a $84.00 price target on shares of NIKE and gave the company an “overweight” rating in a report on Wednesday, October 1st. BTIG Research began coverage on shares of NIKE in a research report on Tuesday, October 14th. They set a “buy” rating and a $100.00 price objective for the company. Finally, Wells Fargo & Company raised NIKE from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $75.00 in a research report on Thursday, November 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.24.

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.