NIKE, Inc. $NKE Shares Purchased by Wealth Alliance LLC

Wealth Alliance LLC raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 22.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,689 shares of the footwear maker’s stock after acquiring an additional 1,579 shares during the quarter. Wealth Alliance LLC’s holdings in NIKE were worth $617,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. M&G PLC raised its position in shares of NIKE by 3.8% during the second quarter. M&G PLC now owns 64,012 shares of the footwear maker’s stock valued at $4,545,000 after buying an additional 2,365 shares during the last quarter. Forsta AP Fonden raised its stake in shares of NIKE by 5.5% in the second quarter. Forsta AP Fonden now owns 282,100 shares of the footwear maker’s stock worth $20,040,000 after acquiring an additional 14,600 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in NIKE by 8.1% in the second quarter. SBI Securities Co. Ltd. now owns 26,518 shares of the footwear maker’s stock valued at $1,884,000 after acquiring an additional 1,979 shares during the last quarter. National Pension Service boosted its stake in shares of NIKE by 10.5% in the 2nd quarter. National Pension Service now owns 3,110,578 shares of the footwear maker’s stock valued at $220,975,000 after purchasing an additional 296,529 shares during the last quarter. Finally, Advyzon Investment Management LLC raised its position in shares of NIKE by 9.6% during the 2nd quarter. Advyzon Investment Management LLC now owns 4,190 shares of the footwear maker’s stock valued at $298,000 after acquiring an additional 367 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NKE. The Goldman Sachs Group set a $85.00 price target on shares of NIKE and gave the company a “buy” rating in a report on Thursday, September 25th. BTIG Research assumed coverage on shares of NIKE in a research report on Tuesday, October 14th. They issued a “buy” rating and a $100.00 price objective on the stock. Truist Financial reiterated a “buy” rating and issued a $85.00 price target on shares of NIKE in a research note on Wednesday, October 1st. JPMorgan Chase & Co. increased their price objective on NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. Finally, Cowen upgraded NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Three 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.72.

Insider Activity

In related news, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp acquired 16,150 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was acquired at an average cost of $62.09 per share, with a total value of $1,002,753.50. Following the transaction, the director directly owned 21,388 shares of the company’s stock, valued at approximately $1,327,980.92. This represents a 308.32% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.80% of the stock is currently owned by corporate insiders.

NIKE Stock Up 1.6%

Shares of NKE stock traded up $1.01 during midday trading on Thursday, reaching $65.21. 2,968,556 shares of the stock were exchanged, compared to its average volume of 16,079,373. The company’s 50 day moving average is $68.88 and its two-hundred day moving average is $68.62. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The firm has a market cap of $96.39 billion, a PE ratio of 33.40, a price-to-earnings-growth 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 posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 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 analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. On average, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current 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.