GC Wealth Management RIA LLC Increases Holdings in NIKE, Inc. $NKE

GC Wealth Management RIA LLC lifted its holdings in NIKE, Inc. (NYSE:NKE) by 18.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,746 shares of the footwear maker’s stock after acquiring an additional 1,996 shares during the period. GC Wealth Management RIA LLC’s holdings in NIKE were worth $905,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Spire Wealth Management grew its holdings in NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock valued at $627,000 after buying an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after buying an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of NIKE during the first quarter worth $25,963,000. BROOKFIELD Corp ON grew its stake in NIKE by 36.2% during the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after acquiring an additional 175,000 shares in the last quarter. Finally, Olstein Capital Management L.P. increased its holdings in NIKE by 42.2% in the 1st quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker’s stock valued at $5,777,000 after acquiring an additional 27,000 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of several research reports. HSBC raised shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Friday, June 27th. Robert W. Baird increased their price target on NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, June 27th. Barclays lifted their price objective on NIKE from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 18th. UBS Group set a $71.00 target price on NIKE and gave the company a “neutral” rating in a research report on Friday, September 19th. Finally, Truist Financial cut their target price on shares of NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $79.62.

NIKE Price Performance

Shares of NKE stock opened at $69.57 on Tuesday. The stock has a 50 day moving average price of $74.90 and a 200 day moving average price of $67.25. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $89.75. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The firm has a market capitalization of $102.75 billion, a P/E ratio of 32.21, a P/E/G ratio of 2.53 and a beta of 1.24.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE’s payout ratio is currently 74.07%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.80% of the stock is owned by corporate insiders.

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.