Axxcess Wealth Management LLC Purchases 163 Shares of NIKE, Inc. (NYSE:NKE)

Axxcess Wealth Management LLC increased its position in NIKE, Inc. (NYSE:NKE) by 2.6% during the third quarter, Holdings Channel reports. The firm owned 6,355 shares of the footwear maker’s stock after buying an additional 163 shares during the quarter. Axxcess Wealth Management LLC’s holdings in NIKE were worth $562,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC lifted its holdings in NIKE by 97.6% during the 1st 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 last quarter. VitalStone Financial LLC grew its stake in 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 last quarter. Bruce G. Allen Investments LLC raised its holdings in 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 acquiring an additional 376 shares during the period. Triad Wealth Partners LLC bought a new position in shares of NIKE during the second quarter worth approximately $44,000. Finally, MFA Wealth Advisors LLC bought a new stake in NIKE in the 2nd quarter valued at $46,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Down 0.2 %

NIKE stock opened at $76.51 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. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a market cap 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 business has a 50-day simple moving average of $81.16 and a two-hundred day simple moving average of $83.49.

NIKE (NYSE:NKE) last announced 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 the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 earnings per share. Analysts predict that NIKE, Inc. will post 2.74 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Stifel Nicolaus cut their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Guggenheim dropped their price target on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and increased their price target for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Finally, Wells Fargo & Company lifted their price target on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.48.

NIKE Company 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.