XML Financial LLC Takes $237,000 Position in NIKE, Inc. (NYSE:NKE)

XML Financial LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,682 shares of the footwear maker’s stock, valued at approximately $237,000.

Other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC grew its stake in shares of NIKE by 7.9% in the third quarter. Proficio Capital Partners LLC now owns 20,335 shares of the footwear maker’s stock valued at $1,798,000 after buying an additional 1,497 shares in the last quarter. Kerusso Capital Management LLC acquired a new position in NIKE in the third quarter valued at approximately $1,757,000. Acorn Financial Advisory Services Inc. ADV purchased a new position in NIKE in the third quarter valued at approximately $225,000. Lindbrook Capital LLC raised its holdings in NIKE by 164.8% during the third quarter. Lindbrook Capital LLC now owns 15,743 shares of the footwear maker’s stock worth $1,392,000 after purchasing an additional 9,798 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its position in shares of NIKE by 21.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,801 shares of the footwear maker’s stock valued at $336,000 after buying an additional 660 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on 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 sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays cut their target price on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada decreased their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. 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. Deutsche Bank Aktiengesellschaft dropped their target price on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and raised their price target for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.48.

NIKE Trading Up 0.9 %

NYSE:NKE opened at $76.60 on Tuesday. 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 business’s 50-day simple moving average is $81.39 and its 200-day simple moving average is $83.73. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock has a market capitalization of $114.85 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.84 and a beta of 1.03.

NIKE (NYSE:NKE) last posted 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 for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $0.94 EPS. Sell-side analysts expect 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.