Horizon Wealth Management LLC Purchases New Shares in NIKE, Inc. (NYSE:NKE)

Horizon Wealth Management LLC bought a new stake in NIKE, Inc. (NYSE:NKE) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 2,431 shares of the footwear maker’s stock, valued at approximately $215,000.

A number of other institutional investors have also made changes to their positions in the business. Cornerstone Wealth Management LLC acquired a new position in NIKE during the 3rd quarter worth $390,000. Rheos Capital Works Inc. acquired a new stake in shares of NIKE during the 3rd quarter worth approximately $11,492,000. B.O.S.S. Retirement Advisors LLC lifted its holdings in NIKE by 7.6% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 38,864 shares of the footwear maker’s stock valued at $3,436,000 after buying an additional 2,730 shares during the period. Vontobel Holding Ltd. raised its position in shares of NIKE by 25.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 3,442,216 shares of the footwear maker’s stock valued at $304,292,000 after acquiring an additional 699,642 shares during the last quarter. Finally, Roberts Wealth Advisors LLC boosted its position in shares of NIKE by 57.4% in the 3rd quarter. Roberts Wealth Advisors LLC now owns 51,807 shares of the footwear maker’s stock worth $4,184,000 after purchasing an additional 18,893 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NKE has been the subject of a number of recent analyst reports. Bank of America lowered their price target on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. UBS Group increased their target price on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Citigroup dropped their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, HSBC lowered their price target on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a report on Friday, June 28th. Fourteen 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, NIKE has an average rating of “Moderate Buy” and an average price target of $96.56.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

NIKE Stock Performance

NIKE stock opened at $83.94 on Thursday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock has a market cap of $126.70 billion, a PE ratio of 22.50, a P/E/G ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The business’s 50-day moving average price is $82.28 and its two-hundred day moving average price is $85.40.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 EPS. As a group, analysts expect that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.76%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is presently 39.68%.

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.