Ashton Thomas Private Wealth LLC Sells 7,868 Shares of NIKE, Inc. (NYSE:NKE)

Ashton Thomas Private Wealth LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 17.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,116 shares of the footwear maker’s stock after selling 7,868 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in NIKE were worth $3,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. Avantax Advisory Services Inc. increased its holdings in shares of NIKE by 9.1% in the first quarter. Avantax Advisory Services Inc. now owns 45,307 shares of the footwear maker’s stock worth $4,258,000 after purchasing an additional 3,788 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in shares of NIKE during the 1st quarter valued at approximately $713,000. TBH Global Asset Management LLC grew its holdings in shares of NIKE by 15.0% in the first quarter. TBH Global Asset Management LLC now owns 12,496 shares of the footwear maker’s stock valued at $1,174,000 after purchasing an additional 1,626 shares in the last quarter. Condor Capital Management increased its position in NIKE by 0.4% in the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after purchasing an additional 116 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in NIKE by 17.3% during the first quarter. Kingsview Wealth Management LLC now owns 63,978 shares of the footwear maker’s stock valued at $6,013,000 after purchasing an additional 9,418 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NKE shares. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Wells Fargo & Company boosted their price objective on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Stifel Nicolaus lowered their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Royal Bank of Canada dropped their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Finally, Sanford C. Bernstein decreased their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $96.48.

NIKE Price Performance

Shares of NKE stock opened at $76.67 on Wednesday. The company has a market cap of $114.96 billion, a P/E ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock’s 50-day moving average is $81.25 and its 200 day moving average is $83.61. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm 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 business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 earnings per share. Research analysts predict that NIKE, Inc. will post 2.74 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.