NIKE, Inc. (NYSE:NKE) Shares Acquired by Focus Partners Wealth

Focus Partners Wealth lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 60.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 281,041 shares of the footwear maker’s stock after buying an additional 106,270 shares during the quarter. Focus Partners Wealth’s holdings in NIKE were worth $21,266,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. JNBA Financial Advisors lifted its holdings in NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock worth $760,000 after buying an additional 131 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in NIKE by 0.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock worth $1,547,000 after buying an additional 136 shares during the last quarter. Elgethun Capital Management lifted its holdings in shares of NIKE by 13.7% in the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock worth $94,000 after purchasing an additional 149 shares during the last quarter. Game Plan Financial Advisors LLC lifted its holdings in shares of NIKE by 11.1% in the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock worth $114,000 after purchasing an additional 150 shares during the last quarter. Finally, AlTi Global Inc. lifted its holdings in shares of NIKE by 0.4% in the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker’s stock worth $2,813,000 after purchasing an additional 150 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on NKE shares. Wells Fargo & Company downgraded NIKE from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $75.00 to $55.00 in a report on Wednesday, April 30th. Royal Bank of Canada cut their price target on NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a report on Friday, March 21st. Citigroup cut their price target on NIKE from $72.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Berenberg Bank started coverage on NIKE in a report on Tuesday, April 15th. They issued a “hold” rating and a $58.00 price target on the stock. Finally, Truist Financial cut their price target on NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Seventeen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.48.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

NIKE Stock Performance

Shares of NYSE NKE opened at $58.35 on Monday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $86.31 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 2.52 and a beta of 1.23. The stock’s fifty day simple moving average is $62.52 and its 200 day simple moving average is $71.20. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm 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 dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.74%. NIKE’s dividend payout ratio is 53.16%.

About NIKE

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.