Acorn Financial Advisory Services Inc. ADV Purchases Shares of 2,549 NIKE, Inc. (NYSE:NKE)

Acorn Financial Advisory Services Inc. ADV purchased a new position in NIKE, Inc. (NYSE:NKE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,549 shares of the footwear maker’s stock, valued at approximately $225,000.

A number of other hedge funds also recently made changes to their positions in NKE. Transcendent Capital Group LLC grew its holdings in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares during the last quarter. VitalStone Financial LLC boosted 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 acquiring an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC boosted its position in NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in NIKE during the second quarter valued at about $44,000. Finally, MFA Wealth Advisors LLC purchased a new position in NIKE during the second quarter valued at approximately $46,000. 64.25% of the stock is owned by institutional investors.

NIKE Stock Down 0.1 %

Shares of NKE stock traded down $0.04 on Friday, reaching $75.88. 8,140,788 shares of the company were exchanged, compared to its average volume of 9,333,267. The company has a market cap of $113.77 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.83 and a beta of 1.03. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a 50-day moving average of $81.39 and a 200-day moving average of $83.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 10.60% and a return on equity of 39.84%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 earnings per share. Analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current year.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Wells Fargo & Company lifted their price objective on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Royal Bank of Canada cut their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, Stifel Nicolaus lowered their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.48.

NIKE 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.