Insight Wealth Strategies LLC Acquires Shares of 8,176 Nike Inc (NKE)
Insight Wealth Strategies LLC acquired a new position in shares of Nike Inc (NYSE:NKE) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 8,176 shares of the footwear maker’s stock, valued at approximately $606,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gemmer Asset Management LLC grew its holdings in shares of Nike by 54.2% during the 4th quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Acima Private Wealth LLC purchased a new position in shares of Nike during the 4th quarter valued at $39,000. Proffitt & Goodson Inc. purchased a new position in shares of Nike during the 4th quarter valued at $44,000. Athena Capital Advisors LLC purchased a new position in shares of Nike during the 4th quarter valued at $56,000. Finally, Ruggie Capital Group grew its holdings in shares of Nike by 40.7% during the 4th quarter. Ruggie Capital Group now owns 805 shares of the footwear maker’s stock valued at $60,000 after acquiring an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 64.85% of the company’s stock.
Several equities analysts have recently commented on the stock. Wedbush boosted their price target on shares of Nike from $90.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday. UBS Group restated a “neutral” rating and set a $86.00 price target on shares of Nike in a report on Friday, February 15th. Oppenheimer boosted their price target on shares of Nike from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, February 8th. Rowe upgraded shares of Nike from a “sell” rating to an “outperform” rating and set a $100.00 price target on the stock in a report on Friday, February 8th. Finally, Cowen upgraded shares of Nike from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $90.00 in a report on Tuesday, January 22nd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $84.59.
Nike (NYSE:NKE) last released its earnings results on Thursday, December 20th. The footwear maker reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.06. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.17 billion. Nike had a net margin of 5.66% and a return on equity of 44.85%. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 EPS. Equities analysts forecast that Nike Inc will post 2.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 4th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Friday, March 1st. Nike’s dividend payout ratio is 36.36%.
In other Nike news, Chairman Mark G. Parker sold 150,000 shares of the business’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $82.00, for a total transaction of $12,300,000.00. Following the completion of the transaction, the chairman now owns 1,539,963 shares of the company’s stock, valued at approximately $126,276,966. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John F. Slusher sold 200,000 shares of the business’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the transaction, the executive vice president now directly owns 284,805 shares of the company’s stock, valued at approximately $21,089,810.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 800,000 shares of company stock valued at $61,862,000. Company insiders own 3.90% of the company’s stock.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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