Wealthspire Advisors LLC Purchases 889 Shares of NIKE, Inc. (NYSE:NKE)

Wealthspire Advisors LLC increased its position in NIKE, Inc. (NYSE:NKE) by 5.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,287 shares of the footwear maker’s stock after buying an additional 889 shares during the quarter. Wealthspire Advisors LLC’s holdings in NIKE were worth $1,877,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC lifted its holdings in shares of NIKE by 0.7% in the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after acquiring an additional 125,746 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of NIKE by 4.5% in the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after acquiring an additional 674,198 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of NIKE by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock valued at $1,073,515,000 after acquiring an additional 219,091 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of NIKE by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock valued at $766,829,000 after acquiring an additional 89,947 shares during the last quarter. Finally, Newport Trust Company LLC bought a new position in shares of NIKE in the 3rd quarter valued at about $679,775,000. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In related news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NKE. Oppenheimer downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price target for the company. in a report on Friday, February 16th. Telsey Advisory Group reduced their price objective on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. Piper Sandler reduced their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Truist Financial reissued a “hold” rating and issued a $111.00 price objective on shares of NIKE in a research report on Tuesday, March 19th. Finally, Wells Fargo & Company reduced their price objective on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Stock Performance

Shares of NIKE stock traded down $0.20 during trading on Thursday, hitting $93.39. 6,429,058 shares of the company’s stock were exchanged, compared to its average volume of 9,151,133. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $126.46. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The business has a 50-day simple moving average of $95.07 and a 200-day simple moving average of $102.84. The stock has a market capitalization of $140.96 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. On average, research analysts forecast that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.58%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

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.