Apollon Wealth Management LLC Acquires 3,323 Shares of NIKE, Inc. $NKE

Apollon Wealth Management LLC boosted its position in NIKE, Inc. (NYSE:NKE) by 14.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 26,710 shares of the footwear maker’s stock after buying an additional 3,323 shares during the quarter. Apollon Wealth Management LLC’s holdings in NIKE were worth $1,898,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares during the period. GAMMA Investing LLC lifted its stake in NIKE by 39.1% in the first quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker’s stock valued at $1,325,000 after buying an additional 5,863 shares during the period. Simon Quick Advisors LLC lifted its stake in NIKE by 21.0% in the first quarter. Simon Quick Advisors LLC now owns 3,986 shares of the footwear maker’s stock valued at $253,000 after buying an additional 691 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in NIKE by 9.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 177,009 shares of the footwear maker’s stock valued at $11,236,000 after buying an additional 14,748 shares during the period. Finally, Ritholtz Wealth Management lifted its stake in NIKE by 30.6% in the first quarter. Ritholtz Wealth Management now owns 8,939 shares of the footwear maker’s stock valued at $567,000 after buying an additional 2,095 shares during the period. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Morgan Stanley set a $72.00 target price on NIKE and gave the stock a “positive” rating in a research note on Wednesday, October 1st. Piper Sandler set a $84.00 target price on NIKE and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Robert W. Baird increased their target price on NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, June 27th. Finally, Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 200,378 shares of company stock valued at $14,794,264 over the last quarter. 0.80% of the stock is currently owned by corporate insiders.

NIKE Stock Performance

Shares of NYSE NKE opened at $67.39 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $84.76. The stock has a 50 day moving average of $73.66 and a 200-day moving average of $67.33. The company has a market capitalization of $99.61 billion, a P/E ratio of 34.56, a P/E/G ratio of 2.38 and a beta of 1.29.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the previous year, the company posted $0.70 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. NIKE’s payout ratio is currently 82.05%.

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.