IFP Advisors Inc grew its holdings in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 99.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,582 shares of the footwear maker’s stock after acquiring an additional 19,766 shares during the quarter. IFP Advisors Inc’s holdings in NIKE were worth $2,522,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Guerra Advisors Inc acquired a new position in NIKE during the third quarter worth about $34,000. Gordian Capital Singapore Pte Ltd acquired a new position in NIKE during the third quarter worth about $35,000. Accredited Wealth Management LLC raised its stake in NIKE by 268.6% during the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock worth $36,000 after acquiring an additional 376 shares in the last quarter. Strive Asset Management LLC acquired a new position in NIKE during the third quarter worth about $40,000. Finally, Matrix Trust Co raised its stake in NIKE by 43.6% during the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 181 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.
Insider Buying and Selling
In related news, CEO Elliott Hill bought 23,660 shares of NIKE stock in a transaction that occurred on Monday, April 13th. The shares were acquired at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the acquisition, the chief executive officer directly owned 265,247 shares of the company’s stock, valued at approximately $11,211,990.69. The trade was a 9.79% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John W. Rogers, Jr. bought 4,000 shares of NIKE stock in a transaction that occurred on Thursday, April 9th. The stock was bought at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the acquisition, the director directly owned 41,022 shares of the company’s stock, valued at $1,777,893.48. The trade was a 10.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 64,441 shares of company stock valued at $2,734,204. Insiders own 0.80% of the company’s stock.
NIKE Stock Performance
NIKE (NYSE:NKE – Get Free Report) last announced its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. As a group, research analysts forecast that NIKE, Inc. will post 1.51 earnings per share for the current year.
NIKE Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.7%. NIKE’s dividend payout ratio is presently 108.61%.
NIKE News Summary
Here are the key news stories impacting NIKE this week:
- Positive Sentiment: NIKE shares are benefiting from a shift into consumer and cyclical stocks as market breadth improves, helping lift sentiment around the name. Nike Stock Is Testing A Level That Could Define The Next Move
- Positive Sentiment: Lower energy prices and softer long-term Treasury yields are helping consumer discretionary stocks, including NIKE, by easing inflation worries and supporting expectations for resilient consumer spending. Nike Stock Soars As Energy Prices And Bond Yields Drop
- Neutral Sentiment: NIKE remains a heavily watched stock, with recent articles and trending searches suggesting investors are actively reassessing the name rather than reacting to a single fundamental catalyst. NIKE, Inc. (NKE) Is a Trending Stock: Facts to Know Before Betting on It
- Neutral Sentiment: Analyst and commentary pieces are focused on whether NIKE is ready for a turnaround, but they do not point to a clear near-term catalyst on their own. Is Nike Stock (NKE) Ready for a Turnaround?
- Negative Sentiment: Some recent analysis remains cautious, arguing NIKE is still not cheap enough or that the operating environment is tough, which could limit upside if investors demand clearer evidence of a rebound. Nike: Not Cheap Enough Yet
Wall Street Analysts Forecast Growth
NKE has been the subject of several research analyst reports. BTIG Research lowered their target price on NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Wells Fargo & Company set a $45.00 target price on NIKE and gave the stock an “equal weight” rating in a research note on Friday, May 8th. UBS Group lowered their target price on NIKE from $58.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. Berenberg Bank reissued a “neutral” rating on shares of NIKE in a research note on Wednesday, May 6th. Finally, Weiss Ratings downgraded NIKE from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 4th. Sixteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $62.04.
Read Our Latest Stock Report on NIKE
NIKE Company Profile
Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.
The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).
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