NIKE, Inc. (NYSE:NKE) Shares Sold by Empower Advisory Group LLC

Empower Advisory Group LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 828,181 shares of the footwear maker’s stock after selling 15,920 shares during the quarter. Empower Advisory Group LLC owned 0.06% of NIKE worth $73,211,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Transcendent Capital Group LLC increased its holdings in NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC raised its holdings in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC lifted its position in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in NIKE in the 2nd quarter worth approximately $44,000. Finally, MFA Wealth Advisors LLC acquired a new stake in NIKE in the second quarter valued at approximately $46,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NKE shares. TD Cowen boosted their target price on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group raised their target price on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. cut their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Wells Fargo & Company raised their price objective on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, UBS Group increased their target price on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.48.

NIKE Stock Performance

Shares of NYSE NKE opened at $76.67 on Wednesday. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a market cap of $114.96 billion, a PE ratio of 21.97, a P/E/G ratio of 1.86 and a beta of 1.03. The stock has a 50 day simple moving average of $81.25 and a 200-day simple moving average of $83.61.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period last year, the company earned $0.94 earnings per share. On average, equities research analysts forecast that NIKE, Inc. will post 2.74 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.