Apollon Wealth Management LLC Sells 5,345 Shares of NIKE, Inc. (NYSE:NKE)

Apollon Wealth Management LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 18.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. 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 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Transcendent Capital Group LLC lifted its holdings in shares of NIKE by 97.6% during the first 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 in the last quarter. VitalStone Financial LLC boosted its holdings in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying an additional 376 shares during the last quarter. Triad Wealth Partners LLC bought a new position in shares of NIKE during the 2nd quarter valued at $44,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of NIKE in the 2nd quarter worth $46,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NYSE:NKE opened at $76.51 on Thursday. The firm has a market cap of $114.72 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 1.86 and a beta of 1.03. The business has a fifty day simple moving average of $81.16 and a 200 day simple moving average of $83.49. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. During the same quarter in the prior year, the firm posted $0.94 EPS. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, sell-side analysts predict that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NKE shares. Wells Fargo & Company increased their price objective on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Evercore ISI cut their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Robert W. Baird upped their price objective on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Morgan Stanley upped their price target on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada reduced their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.48.

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.