Pines Wealth Management LLC Has $338,000 Position in NIKE, Inc. (NYSE:NKE)

Pines Wealth Management LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 60.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,330 shares of the footwear maker’s stock after buying an additional 2,003 shares during the period. Pines Wealth Management LLC’s holdings in NIKE were worth $338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NKE. Renaissance Technologies LLC lifted its position in shares of NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock worth $196,901,000 after purchasing an additional 2,416,601 shares in the last quarter. Capitolis Liquid Global Markets LLC lifted its holdings in NIKE by 40.9% during the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker’s stock worth $23,458,000 after buying an additional 90,000 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in NIKE by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker’s stock worth $460,160,000 after buying an additional 463,470 shares in the last quarter. Markel Group Inc. lifted its holdings in NIKE by 0.8% during the 4th quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker’s stock worth $32,720,000 after buying an additional 3,500 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its holdings in NIKE by 3.3% during the 4th quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker’s stock worth $18,042,000 after buying an additional 7,536 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of several research reports. Wells Fargo & Company upped their price target on NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. cut their target price on shares of NIKE from $64.00 to $56.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Piper Sandler cut their target price on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Stifel Nicolaus cut their target price on shares of NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Finally, Royal Bank of Canada cut their price objective on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating on the stock in a report on Tuesday, May 20th. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.26.

NIKE Stock Performance

Shares of NKE stock opened at $62.82 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a market capitalization of $92.92 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. The company’s 50 day moving average price is $58.86 and its two-hundred day moving average price is $69.19. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. On average, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. NIKE’s dividend payout ratio (DPR) is 53.16%.

Insider Activity

In other news, Director Robert Holmes Swan bought 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.