Smith Salley Wealth Management Has $1.67 Million Holdings in NIKE, Inc. (NYSE:NKE)

Smith Salley Wealth Management lessened its position in NIKE, Inc. (NYSE:NKE) by 19.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,075 shares of the footwear maker’s stock after selling 5,443 shares during the period. Smith Salley Wealth Management’s holdings in NIKE were worth $1,670,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Range Financial Group LLC bought a new stake in shares of NIKE during the 4th quarter worth about $642,000. Cacti Asset Management LLC bought a new position in NIKE in the fourth quarter valued at about $9,987,000. FNY Investment Advisers LLC increased its holdings in shares of NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after buying an additional 8,504 shares in the last quarter. Eagle Rock Investment Company LLC raised its holdings in NIKE by 49.2% in the 4th quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock valued at $4,589,000 after buying an additional 19,991 shares during the last quarter. Finally, Mirador Capital Partners LP lifted its holdings in shares of NIKE by 69.8% during the fourth quarter. Mirador Capital Partners LP now owns 72,986 shares of the footwear maker’s stock worth $5,523,000 after purchasing an additional 30,011 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays decreased their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Evercore ISI decreased their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. TD Cowen cut their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Finally, Jefferies Financial Group upped their price target on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.96.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

NIKE Stock Down 0.3 %

NKE stock opened at $70.89 on Friday. The company has a market capitalization of $104.85 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The firm’s fifty day simple moving average is $75.77 and its 200-day simple moving average is $77.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. As a group, equities research analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 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.