Foster Victor Wealth Advisors LLC increased its stake in NIKE, Inc. (NYSE:NKE – Free Report) by 52.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,594 shares of the footwear maker’s stock after acquiring an additional 48,631 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in NIKE were worth $10,031,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Deane Retirement Strategies Inc. acquired a new stake in NIKE in the 4th quarter valued at about $1,915,000. Mayflower Financial Advisors LLC raised its holdings in NIKE by 20.8% in the fourth quarter. Mayflower Financial Advisors LLC now owns 11,642 shares of the footwear maker’s stock valued at $881,000 after acquiring an additional 2,006 shares in the last quarter. Stonegate Investment Group LLC lifted its stake in NIKE by 18.5% in the fourth quarter. Stonegate Investment Group LLC now owns 670,616 shares of the footwear maker’s stock worth $50,746,000 after acquiring an additional 104,786 shares during the last quarter. Vantage Investment Partners LLC grew its holdings in NIKE by 6.4% during the 4th quarter. Vantage Investment Partners LLC now owns 460,462 shares of the footwear maker’s stock worth $34,843,000 after acquiring an additional 27,566 shares in the last quarter. Finally, Verde Servicos Internacionais S.A. increased its position in shares of NIKE by 88.0% in the 4th quarter. Verde Servicos Internacionais S.A. now owns 117,903 shares of the footwear maker’s stock valued at $8,922,000 after purchasing an additional 55,202 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
NKE has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $72.00 to $90.00 in a report on Friday, January 10th. Wells Fargo & Company cut their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Robert W. Baird lowered their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Finally, Barclays cut their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.96.
Insider Transactions at NIKE
In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.
NIKE Stock Performance
NYSE:NKE opened at $74.38 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a market cap of $110.02 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02. The firm’s fifty day moving average price is $75.48 and its 200 day moving average price is $77.96. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43.
NIKE (NYSE:NKE – Get Free Report) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. On average, sell-side analysts expect that NIKE, Inc. will post 2.1 EPS for the current year.
NIKE Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.15%. NIKE’s payout ratio is presently 49.38%.
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.
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