NIKE, Inc. (NYSE:NKE) Shares Bought by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in NIKE, Inc. by 25.5%, owning approximately 1.26 million shares valued at $80.23 million as of its latest SEC filing.
• Several large investors, including EnRich Financial Partners LLC and Heck Capital Advisors LLC, have recently modified their positions in NIKE, indicating growing institutional interest in the company.
• Analyst ratings for NIKE vary, with the consensus giving it a "Moderate Buy" and a price target of $78.22, while some analysts have upgraded the stock's rating recently.

LPL Financial LLC boosted its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 25.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,263,797 shares of the footwear maker's stock after acquiring an additional 257,095 shares during the quarter. LPL Financial LLC owned 0.09% of NIKE worth $80,226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Heck Capital Advisors LLC purchased a new stake in NIKE in the 4th quarter worth approximately $28,000. EnRich Financial Partners LLC increased its holdings in shares of NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after purchasing an additional 273 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of NIKE by 95.1% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock worth $39,000 after purchasing an additional 250 shares during the last quarter. Putney Financial Group LLC bought a new stake in shares of NIKE in the fourth quarter worth about $40,000. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of NIKE in the fourth quarter worth about $42,000. 64.25% of the stock is owned by institutional investors.

NIKE Stock Down 0.1%

NIKE stock traded down $0.08 during mid-day trading on Friday, reaching $74.61. 11,901,464 shares of the company were exchanged, compared to its average volume of 12,368,582. The business has a fifty day moving average of $68.36 and a 200 day moving average of $67.53. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The firm has a market cap of $110.19 billion, a P/E ratio of 34.54, a PEG ratio of 2.71 and a beta of 1.27. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62.

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

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NKE has been the topic of several research reports. DZ Bank cut NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a report on Thursday, July 10th. Citigroup lifted their target price on NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. UBS Group initiated coverage on NIKE in a research report on Sunday, July 6th. They issued a "buy" rating for the company. Finally, Piper Sandler lifted their price target on NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $78.22.

NIKE Company 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.