2,549 Shares in NIKE, Inc. (NYSE:NKE) Bought by Acorn Financial Advisory Services Inc. ADV

Acorn Financial Advisory Services Inc. ADV acquired a new position in shares of NIKE, Inc. (NYSE:NKE) in the third quarter, Holdings Channel.com reports. The firm acquired 2,549 shares of the footwear maker’s stock, valued at approximately $225,000.

A number of other hedge funds have also modified their holdings of NKE. Transcendent Capital Group LLC raised its position in NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares during the period. VitalStone Financial LLC boosted its stake in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC grew its position in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after buying an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in NIKE during the 2nd quarter worth approximately $44,000. Finally, MFA Wealth Advisors LLC purchased a new stake in NIKE during the second quarter worth approximately $46,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and raised their price target for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. JPMorgan Chase & Co. reduced their target price on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Jefferies Financial Group increased their target price on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Finally, Evercore ISI dropped their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $96.48.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Price Performance

NIKE stock traded down $0.04 during mid-day trading on Friday, hitting $75.88. The company’s stock had a trading volume of 8,140,788 shares, compared to its average volume of 9,333,267. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The stock’s fifty day moving average price is $81.39 and its two-hundred day moving average price is $83.88. The stock has a market capitalization of $113.77 billion, a P/E ratio of 21.74, a P/E/G ratio of 1.83 and a beta of 1.03. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the business posted $0.94 earnings per share. NIKE’s revenue was down 10.4% compared to the same quarter last year. Research analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current year.

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.