Wills Financial Group LLC Makes New Investment in NIKE, Inc. (NYSE:NKE)

Key Points

• Wills Financial Group LLC has acquired 6,485 shares of NIKE, Inc., valued at approximately $412,000, marking a new investment in the company.
• Recent changes in institutional holdings show that several hedge funds, including Heck Capital Advisors and EnRich Financial Partners, have increased their stakes in NIKE.
• Analyst ratings for NIKE are largely optimistic, with 17 analysts

Wills Financial Group LLC acquired a new position in NIKE, Inc. (NYSE:NKE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,485 shares of the footwear maker's stock, valued at approximately $412,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Heck Capital Advisors LLC acquired a new position in shares of NIKE during the fourth quarter valued at $28,000. EnRich Financial Partners LLC boosted its holdings in shares of NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after acquiring an additional 273 shares during the period. Roxbury Financial LLC boosted its holdings in shares of NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after acquiring an additional 201 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of NIKE during the first quarter valued at $37,000. Finally, Ritter Daniher Financial Advisory LLC DE boosted its holdings in shares of NIKE by 95.1% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock valued at $39,000 after acquiring an additional 250 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Needham & Company LLC upped their price objective on shares of NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, June 27th. UBS Group assumed coverage on shares of NIKE in a report on Sunday, July 6th. They issued a "buy" rating for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a report on Friday, June 20th. 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $78.22.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction dated 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 owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is owned by corporate insiders.

NIKE Price Performance

NYSE NKE opened at $74.61 on Monday. The company has a market cap of $110.19 billion, a PE ratio of 34.54, a PEG ratio of 2.71 and a beta of 1.27. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock's 50-day moving average price is $68.36 and its two-hundred day moving average price is $67.48.

NIKE (NYSE:NKE - Get Free Report) last issued 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 company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. On average, 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.

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