Geneos Wealth Management Inc. Raises Stock Holdings in NIKE, Inc. (NYSE:NKE)

Key Points

• Geneos Wealth Management Inc. increased its stake in NIKE, Inc. by 22.5%, owning 54,817 shares valued at approximately $3.58 million as of the latest reporting period.
• Several large investors have significantly modified their positions, including Jennison Associates LLC, which purchased $509 million in NIKE shares, and Renaissance Technologies LLC, which increased its holdings by 1,302.7%.
• Analysts have adjusted their ratings and price targets for NIKE, with a consensus rating of "Moderate Buy" and an average price target of $78.22.

Geneos Wealth Management Inc. increased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 22.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,817 shares of the footwear maker's stock after buying an additional 10,069 shares during the quarter. Geneos Wealth Management Inc.'s holdings in NIKE were worth $3,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new position in NIKE during the 4th quarter worth approximately $28,000. EnRich Financial Partners LLC grew its position in shares of NIKE by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after buying an additional 273 shares during the period. Roxbury Financial LLC grew its position in shares of NIKE by 52.1% during the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after buying an additional 201 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in shares of NIKE during the 1st quarter worth approximately $37,000. Finally, Ritter Daniher Financial Advisory LLC DE grew its position in shares of NIKE by 95.1% during the 4th 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 during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated 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 approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is owned by insiders.

NIKE Stock Performance

NIKE stock traded down $0.08 during midday trading on Friday, reaching $74.61. The stock had a trading volume of 11,901,464 shares, compared to its average volume of 12,368,582. 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 has a market capitalization of $110.19 billion, a PE ratio of 34.54, a P/E/G 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. The firm's 50-day moving average price is $68.36 and its 200 day moving average price is $67.53.

NIKE (NYSE:NKE - Get Free Report) last posted 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. The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company's quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 EPS. As a group, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NKE. Truist Financial reduced their price objective on shares of NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. DZ Bank downgraded shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective for the company. in a research report on Thursday, July 10th. Bank of America lifted their price target on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Finally, Williams Trading reduced their price target on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $78.22.

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.