Axxcess Wealth Management LLC Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

Axxcess Wealth Management LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,355 shares of the footwear maker’s stock after purchasing an additional 163 shares during the period. Axxcess Wealth Management LLC’s holdings in NIKE were worth $562,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Transcendent Capital Group LLC boosted its holdings 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 in the last quarter. VitalStone Financial LLC lifted its position in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in shares of NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying an additional 376 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in shares of NIKE in the 2nd quarter valued at $44,000. Finally, MFA Wealth Advisors LLC acquired a new stake in NIKE during the 2nd quarter worth $46,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Royal Bank of Canada decreased their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Telsey Advisory Group decreased their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and lifted their price objective for the company from $67.00 to $93.00 in a research note on Friday, August 16th. TD Cowen lifted their target price on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley increased their price target on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.48.

NIKE Stock Down 0.2 %

NKE opened at $76.51 on Thursday. The company has a market capitalization of $114.72 billion, a P/E ratio of 21.92, a P/E/G ratio of 1.86 and a beta of 1.03. The firm’s fifty day moving average price is $81.16 and its two-hundred day moving average price is $83.49. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. 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 announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the business earned $0.94 EPS. NIKE’s revenue was down 10.4% compared to the same quarter last year. On average, analysts anticipate that NIKE, Inc. will post 2.74 EPS for the current 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.