Foster Victor Wealth Advisors LLC Raises Holdings in NIKE, Inc. (NYSE:NKE)

Foster Victor Wealth Advisors LLC increased its position in NIKE, Inc. (NYSE:NKE) by 52.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,594 shares of the footwear maker’s stock after buying an additional 48,631 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in NIKE were worth $10,031,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Garrison Point Advisors LLC raised its holdings in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares during the last quarter. Stephens Consulting LLC boosted its stake in shares of NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after buying an additional 128 shares during the last quarter. PSI Advisors LLC grew its holdings in NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after acquiring an additional 130 shares during the period. Chapin Davis Inc. raised its position in NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after acquiring an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC lifted its holdings in NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after acquiring an additional 133 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Trading Down 1.6 %

Shares of NKE stock opened at $74.38 on Wednesday. The company’s 50-day moving average price is $75.48 and its 200-day moving average price is $77.96. The stock has a market cap of $110.02 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 2.36 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the business earned $1.03 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, equities analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. NIKE’s payout ratio is presently 49.38%.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NKE has been the subject of several analyst reports. Evercore ISI decreased their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Guggenheim decreased their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the company from $72.00 to $90.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. reduced their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Finally, Bank of America reduced their target price on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

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.