Nicolet Advisory Services LLC Acquires 2,055 Shares of NIKE, Inc. (NYSE:NKE)

Nicolet Advisory Services LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 28.0% during the 1st quarter, Holdings Channel reports. The fund owned 9,400 shares of the footwear maker’s stock after buying an additional 2,055 shares during the quarter. Nicolet Advisory Services LLC’s holdings in NIKE were worth $597,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of 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 buying an additional 17,888 shares during the period. Westpac Banking Corp increased its position in shares of NIKE by 2.8% during the fourth quarter. Westpac Banking Corp now owns 18,317 shares of the footwear maker’s stock worth $1,386,000 after acquiring an additional 507 shares in the last quarter. World Investment Advisors raised its holdings in shares of NIKE by 25.9% during the fourth quarter. World Investment Advisors now owns 49,125 shares of the footwear maker’s stock worth $3,717,000 after acquiring an additional 10,107 shares during the period. Finally, Arete Wealth Advisors LLC raised its holdings in shares of NIKE by 256.1% during the fourth quarter. Arete Wealth Advisors LLC now owns 25,467 shares of the footwear maker’s stock worth $1,927,000 after acquiring an additional 18,315 shares during the period. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of NIKE from $57.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, June 27th. Berenberg Bank initiated coverage on NIKE in a report on Tuesday, April 15th. They set a “hold” rating and a $58.00 price objective for the company. Evercore ISI dropped their target price on NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 24th. JPMorgan Chase & Co. raised NIKE from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $64.00 to $93.00 in a research report on Monday, July 28th. Finally, Truist Financial decreased their price target on shares of NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday, June 24th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.22.

NIKE Stock Down 0.1%

Shares of NKE opened at $74.61 on Friday. The firm has a 50 day simple moving average of $68.36 and a two-hundred day simple moving average of $67.53. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The company has a market cap of $110.19 billion, a P/E ratio of 34.54, a P/E/G ratio of 2.71 and a beta of 1.27.

NIKE (NYSE:NKE) last posted its quarterly 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. 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 analysts’ expectations of $10.69 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. NIKE’s revenue was down 11.9% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Insider Activity

In other NIKE 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.80% of the company’s stock.

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.