NIKE, Inc. (NYSE:NKE) Shares Purchased by Modern Wealth Management LLC

Modern Wealth Management LLC raised its position in NIKE, Inc. (NYSE:NKE) by 7.4% during the 4th quarter, Holdings Channel reports. The firm owned 25,909 shares of the footwear maker’s stock after acquiring an additional 1,794 shares during the quarter. Modern Wealth Management LLC’s holdings in NIKE were worth $1,838,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NKE. Heck Capital Advisors LLC purchased a new position in NIKE during the 4th quarter valued at about $28,000. Caitlin John LLC increased its stake in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America acquired a new position in shares of NIKE during the 3rd quarter worth approximately $30,000. Roxbury Financial LLC purchased a new stake in NIKE in the 4th quarter valued at approximately $30,000. Finally, LFA Lugano Financial Advisors SA grew its holdings in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on 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 sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NYSE:NKE opened at $66.64 on Wednesday. The company has a market cap of $98.57 billion, a P/E ratio of 20.57, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a one year low of $65.17 and a one year high of $98.04. The business’s 50-day simple moving average is $74.52 and its 200 day simple moving average is $77.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. On average, sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.40%. NIKE’s payout ratio is currently 53.16%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Needham & Company LLC cut their price target on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a report on Monday, March 17th. Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. China Renaissance started coverage on NIKE in a research note on Wednesday, March 19th. They issued a “hold” rating on the stock. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $115.00 in a research report on Monday, February 24th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $87.38.

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.