Empower Advisory Group LLC Acquires 74,781 Shares of NIKE, Inc. $NKE

Empower Advisory Group LLC grew its stake in NIKE, Inc. (NYSE:NKE) by 10.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 816,183 shares of the footwear maker’s stock after purchasing an additional 74,781 shares during the period. Empower Advisory Group LLC owned approximately 0.06% of NIKE worth $57,982,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of NKE. Stone House Investment Management LLC bought a new stake in NIKE in the first quarter valued at $25,000. Mascoma Wealth Management LLC bought a new position in shares of NIKE during the second quarter valued at $26,000. Halbert Hargrove Global Advisors LLC boosted its stake in shares of NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares in the last quarter. Saudi Central Bank bought a new stake in shares of NIKE in the 1st quarter worth about $30,000. Finally, Matrix Trust Co increased its position in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NKE shares. Royal Bank Of Canada restated an “outperform” rating on shares of NIKE in a research report on Friday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $78.00 price objective on shares of NIKE in a report on Wednesday, October 1st. Telsey Advisory Group reissued a “market perform” rating and issued a $75.00 target price on shares of NIKE in a report on Wednesday, October 1st. Cowen raised NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. 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-six have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $82.72.

NIKE Price Performance

NIKE stock opened at $64.11 on Friday. The business’s 50-day simple moving average is $68.50 and its 200 day simple moving average is $68.73. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The stock has a market cap of $94.77 billion, a price-to-earnings ratio of 32.88, a P/E/G ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44.

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

Insider Activity at NIKE

In other NIKE news, Director Jorgen Vig Knudstorp acquired 16,150 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the acquisition, the director directly owned 21,388 shares of the company’s stock, valued at approximately $1,327,980.92. This represents a 308.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were 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 approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.80% of the company’s stock.

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.