Prospera Financial Services Inc Boosts Position in NIKE, Inc. $NKE

Prospera Financial Services Inc grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 12.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,585 shares of the footwear maker’s stock after buying an additional 3,207 shares during the quarter. Prospera Financial Services Inc’s holdings in NIKE were worth $2,102,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Mitchell Mcleod Pugh & Williams Inc. boosted its position in NIKE by 1.0% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock worth $1,007,000 after purchasing an additional 134 shares during the period. Caldwell Sutter Capital Inc. lifted its stake in shares of NIKE by 6.3% during the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after purchasing an additional 142 shares in the last quarter. Salomon & Ludwin LLC lifted its stake in shares of NIKE by 10.1% during the second quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after purchasing an additional 145 shares in the last quarter. Westmount Partners LLC boosted its position in shares of NIKE by 2.9% in the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after buying an additional 146 shares during the period. Finally, HB Wealth Management LLC grew its stake in shares of NIKE by 0.3% in the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after buying an additional 147 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NKE. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. BTIG Research began coverage on shares of NIKE in a research report on Tuesday, October 14th. They set a “buy” rating and a $100.00 target price on the stock. Weiss Ratings upgraded shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $78.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Finally, Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $82.21.

Insiders Place Their Bets

In related news, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 16,150 shares of NIKE stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the purchase, the director directly owned 21,388 shares of the company’s stock, valued at $1,327,980.92. The trade was a 308.32% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.80% of the stock is currently owned by company insiders.

NIKE Price Performance

NKE opened at $63.10 on Wednesday. The company has a market capitalization of $93.27 billion, a P/E ratio of 32.36, a PEG ratio of 2.41 and a beta of 1.29. The company has a 50-day moving average of $69.09 and a 200-day moving average of $68.66. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 earnings per share. Equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

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.