Soltis Investment Advisors LLC Boosts Stock Position in NIKE, Inc. $NKE

Soltis Investment Advisors LLC increased its stake in NIKE, Inc. (NYSE:NKE) by 238.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 141,356 shares of the footwear maker’s stock after buying an additional 99,638 shares during the period. NIKE accounts for about 0.8% of Soltis Investment Advisors LLC’s holdings, making the stock its 20th largest holding. Soltis Investment Advisors LLC’s holdings in NIKE were worth $10,042,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in shares of NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of NIKE by 9.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,358,099 shares of the footwear maker’s stock worth $86,212,000 after purchasing an additional 113,900 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of NIKE by 5.4% in the 1st quarter. TD Private Client Wealth LLC now owns 7,188 shares of the footwear maker’s stock worth $456,000 after purchasing an additional 367 shares in the last quarter. Callan Capital LLC increased its holdings in shares of NIKE by 7.4% in the 1st quarter. Callan Capital LLC now owns 3,718 shares of the footwear maker’s stock worth $236,000 after purchasing an additional 256 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its holdings in shares of NIKE by 34.8% in the 1st quarter. Valeo Financial Advisors LLC now owns 32,137 shares of the footwear maker’s stock worth $2,040,000 after purchasing an additional 8,299 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.80% of the stock is owned by company insiders.

NIKE Price Performance

Shares of NIKE stock opened at $62.14 on Thursday. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44. The stock’s fifty day moving average is $70.29 and its 200 day moving average is $68.46. The stock has a market cap of $91.86 billion, a P/E ratio of 31.87, a P/E/G ratio of 2.41 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $10.96 billion. During the same period last year, the firm earned $0.70 EPS. NIKE’s revenue for the quarter was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on NKE shares. Weiss Ratings raised NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Morgan Stanley set a $72.00 price target on NIKE and gave the stock a “positive” rating in a research note on Wednesday, October 1st. Citigroup upgraded NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Royal Bank Of Canada restated an “outperform” rating on shares of NIKE in a research note on Friday, October 10th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $75.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $82.21.

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.