GSB Wealth Management LLC Purchases 2,310 Shares of NIKE, Inc. (NYSE:NKE)

GSB Wealth Management LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 37.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 8,549 shares of the footwear maker’s stock after acquiring an additional 2,310 shares during the period. GSB Wealth Management LLC’s holdings in NIKE were worth $543,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in NIKE during the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA grew its holdings in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after buying an additional 210 shares in the last quarter. Hopwood Financial Services Inc. purchased a new stake in NIKE during the 4th quarter valued at approximately $30,000. EnRich Financial Partners LLC grew its holdings in NIKE by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after buying an additional 273 shares in the last quarter. Finally, BankPlus Trust Department purchased a new stake in NIKE during the 4th quarter valued at approximately $34,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 3.0%

NYSE NKE opened at $60.02 on Wednesday. The company has a quick ratio of 1.52, a current ratio of 2.19 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $59.57 and a two-hundred day moving average of $68.42. The firm has a market capitalization of $88.77 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 2.14 and a beta of 1.21. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period last year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.67%. NIKE’s dividend payout ratio (DPR) is 53.16%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NKE shares. Robert W. Baird cut their price objective on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Williams Trading cut their target price on shares of NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 21st. Stifel Nicolaus cut their target price on shares of NIKE from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, April 10th. UBS Group cut their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, March 21st. Finally, Truist Financial cut their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a report on Friday, March 21st. Seventeen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.93.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan acquired 8,600 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. The trade was a 36.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

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.