Arkadios Wealth Advisors Acquires 25,410 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Arkadios Wealth Advisors increased its stake in NIKE, Inc. by 113.4% in the first quarter, holding 47,813 shares valued at $3,035,000.
• NIKE's stock has seen significant activity among institutional investors, with major funds like Jennison Associates and Renaissance Technologies making substantial purchases.
• Recent analyst ratings for NIKE show a range of sentiments with a consensus rating of "Moderate Buy" and a price target of $78.22.

Arkadios Wealth Advisors boosted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 113.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,813 shares of the footwear maker's stock after buying an additional 25,410 shares during the quarter. Arkadios Wealth Advisors' holdings in NIKE were worth $3,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Heck Capital Advisors LLC purchased a new position in shares of NIKE in the fourth quarter valued at $28,000. EnRich Financial Partners LLC grew its position in NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after buying an additional 273 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE grew its position in NIKE by 95.1% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock worth $39,000 after buying an additional 250 shares in the last quarter. Putney Financial Group LLC purchased a new position in NIKE during the fourth quarter worth about $40,000. Finally, Minot DeBlois Advisors LLC purchased a new position in NIKE during the fourth quarter worth about $42,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on NKE shares. Needham & Company LLC boosted their target price on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. UBS Group started coverage on NIKE in a research report on Sunday, July 6th. They set a "buy" rating for the company. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Morgan Stanley boosted their target price on NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Finally, Bank of America boosted their target price on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

NIKE Trading Down 0.1%

Shares of NYSE NKE traded down $0.08 during midday trading on Friday, reaching $74.61. The company had a trading volume of 11,901,464 shares, compared to its average volume of 12,368,582. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The firm's fifty day moving average price is $68.36 and its 200-day moving average price is $67.53. The stock has a market cap of $110.19 billion, a PE ratio of 34.54, a price-to-earnings-growth ratio of 2.71 and a beta of 1.27.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the previous year, the company posted $0.99 EPS. NIKE's revenue for the quarter was down 11.9% on a year-over-year basis. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares of the company's stock, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.80% of the stock is owned by insiders.

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.