Avantax Advisory Services Inc. Raises Holdings in NIKE, Inc. (NYSE:NKE)

Avantax Advisory Services Inc. boosted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 13.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,934 shares of the footwear maker's stock after buying an additional 7,180 shares during the quarter. Avantax Advisory Services Inc.'s holdings in NIKE were worth $3,741,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NKE. Brighton Jones LLC boosted its stake in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after acquiring an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in NIKE by 10.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock valued at $14,447,000 after acquiring an additional 17,888 shares in the last quarter. Intrust Bank NA boosted its stake in NIKE by 12.1% in the fourth quarter. Intrust Bank NA now owns 4,865 shares of the footwear maker's stock valued at $368,000 after acquiring an additional 525 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in NIKE by 7,238.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,627,424 shares of the footwear maker's stock valued at $123,147,000 after acquiring an additional 1,605,248 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in NIKE by 12.9% in the fourth quarter. Schroder Investment Management Group now owns 1,940,186 shares of the footwear maker's stock valued at $144,835,000 after acquiring an additional 221,349 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NKE has been the subject of several recent analyst reports. Evercore ISI lowered their target price on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. Robert W. Baird lifted their price objective on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Wells Fargo & Company lifted their price objective on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. DZ Bank cut shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price for the company. in a report on Thursday, July 10th. Finally, JPMorgan Chase & Co. raised shares of NIKE from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $64.00 to $93.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $78.22.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.80% of the stock is owned by corporate insiders.

NIKE Stock Up 3.9%

NKE stock opened at $79.27 on Tuesday. The stock has a market capitalization of $117.07 billion, a P/E ratio of 36.70, a P/E/G ratio of 2.80 and a beta of 1.25. The firm has a 50-day simple moving average of $67.15 and a 200-day simple moving average of $67.35. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62.

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

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.02%. NIKE's dividend payout ratio is currently 74.07%.

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.

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