Apollon Wealth Management LLC Decreases Stake in NIKE, Inc. (NYSE:NKE)

Apollon Wealth Management LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 18.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,015 shares of the footwear maker’s stock after selling 5,345 shares during the quarter. Apollon Wealth Management LLC’s holdings in NIKE were worth $2,035,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Garrison Point Advisors LLC raised its holdings in NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after acquiring an additional 126 shares during the period. Stephens Consulting LLC increased its holdings in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after acquiring an additional 128 shares during the period. PSI Advisors LLC increased its holdings in shares of NIKE by 26.3% in the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares during the period. Pitcairn Co. raised its position in shares of NIKE by 0.5% in the first quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker’s stock worth $2,732,000 after buying an additional 132 shares in the last quarter. Finally, Chapin Davis Inc. grew its position in NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after buying an additional 133 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Morgan Stanley raised their price target on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft cut their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Sanford C. Bernstein lowered their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Evercore ISI cut their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Finally, Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.48.

NIKE Stock Down 0.2 %

NKE stock opened at $76.51 on Thursday. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a market capitalization of $114.72 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The business’s 50 day moving average price is $81.16 and its two-hundred day moving average price is $83.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during 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 firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 earnings per share. As a group, analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

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.