Kovack Advisors Inc. Acquires 1,403 Shares of NIKE, Inc. (NYSE:NKE)

Kovack Advisors Inc. grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 20.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,323 shares of the footwear maker’s stock after buying an additional 1,403 shares during the period. Kovack Advisors Inc.’s holdings in NIKE were worth $630,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Range Financial Group LLC acquired a new position in shares of NIKE during the fourth quarter worth approximately $642,000. Cacti Asset Management LLC acquired a new position in shares of NIKE during the fourth quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd acquired a new position in shares of NIKE during the fourth quarter worth approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. raised its position in shares of NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC raised its position in shares of NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

NIKE Stock Down 0.7 %

NKE stock opened at $79.43 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a market capitalization of $117.49 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 2.52 and a beta of 1.01. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $105.57. The stock has a fifty day moving average of $74.64 and a 200-day moving average of $78.33.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 EPS. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.01%. NIKE’s dividend payout ratio is currently 49.38%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and upped their target price for the stock from $75.00 to $115.00 in a research report on Monday, February 24th. DA Davidson raised NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Truist Financial lowered their price target on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. TD Cowen lowered their price target on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $84.00 price target on shares of NIKE in a research report on Friday, February 7th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Company 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.