NIKE, Inc. $NKE Holdings Boosted by Prospera Financial Services Inc

Prospera Financial Services Inc raised its stake in NIKE, Inc. (NYSE:NKE) by 12.2% in the second quarter, HoldingsChannel.com reports. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC grew 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 buying an additional 160,980 shares during the last quarter. Stephens Inc. AR boosted its holdings in shares of NIKE by 19.4% during the first quarter. Stephens Inc. AR now owns 98,799 shares of the footwear maker’s stock valued at $6,272,000 after acquiring an additional 16,087 shares during the period. CWM LLC boosted its holdings in shares of NIKE by 127.1% during the first quarter. CWM LLC now owns 86,828 shares of the footwear maker’s stock valued at $5,512,000 after acquiring an additional 48,598 shares during the period. MQS Management LLC bought a new position in shares of NIKE during the first quarter worth about $254,000. Finally, Bleakley Financial Group LLC increased its holdings in shares of NIKE by 4.4% in the 1st quarter. Bleakley Financial Group LLC now owns 12,150 shares of the footwear maker’s stock worth $771,000 after acquiring an additional 511 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of NIKE 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 completion of the transaction, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NKE. Stifel Nicolaus set a $68.00 price objective on shares of NIKE and gave the company a “hold” rating in a research report on Wednesday, October 1st. Telsey Advisory Group reaffirmed a “market perform” rating and set a $75.00 price target on shares of NIKE in a report on Wednesday, October 1st. Jefferies Financial Group reiterated a “buy” rating and set a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. Truist Financial reissued a “buy” rating and issued a $85.00 price objective on shares of NIKE in a report on Wednesday, October 1st. Finally, Citigroup raised NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.21.

NIKE Price Performance

Shares of NYSE:NKE opened at $63.10 on Wednesday. The stock has a market cap of $93.27 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 2.41 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The stock’s 50 day moving average price is $69.09 and its 200 day moving average price is $68.66.

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