Sheets Smith Wealth Management Has $5.03 Million Stake in NIKE, Inc. (NYSE:NKE)

Sheets Smith Wealth Management trimmed its position in NIKE, Inc. (NYSE:NKE) by 0.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,232 shares of the footwear maker’s stock after selling 322 shares during the quarter. Sheets Smith Wealth Management’s holdings in NIKE were worth $5,030,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA raised its stake in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after purchasing an additional 210 shares in the last quarter. Hopwood Financial Services Inc. acquired a new position in shares of NIKE in the fourth quarter valued at $30,000. EnRich Financial Partners LLC raised its stake in shares of NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 273 shares in the last quarter. Finally, BankPlus Trust Department acquired a new position in shares of NIKE in the fourth quarter valued at $34,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NKE has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on NIKE from $77.00 to $71.00 and set a “buy” rating for the company in a research note on Friday. Morgan Stanley dropped their price objective on NIKE from $70.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 17th. Bank of America dropped their price objective on NIKE from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Robert W. Baird dropped their price objective on NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Finally, Truist Financial dropped their price objective on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Sixteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.74.

NIKE Trading Up 1.7%

NYSE:NKE opened at $60.81 on Tuesday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04. The business’s 50-day moving average price is $59.89 and its two-hundred day moving average price is $67.82. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $89.95 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 2.11 and a beta of 1.21.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.63%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is 53.16%.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan bought 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

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.