IFP Advisors Inc Has $2.52 Million Stock Holdings in NIKE, Inc. $NKE

IFP Advisors Inc raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 99.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,582 shares of the footwear maker’s stock after purchasing an additional 19,766 shares during the quarter. IFP Advisors Inc’s holdings in NIKE were worth $2,522,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. TPG Financial Advisors LLC lifted its holdings in NIKE by 164.9% during the 4th quarter. TPG Financial Advisors LLC now owns 9,711 shares of the footwear maker’s stock valued at $619,000 after purchasing an additional 6,045 shares during the last quarter. Midwest Professional Planners LTD. lifted its holdings in NIKE by 73.3% during the 4th quarter. Midwest Professional Planners LTD. now owns 17,638 shares of the footwear maker’s stock valued at $1,124,000 after purchasing an additional 7,461 shares during the last quarter. Marble Harbor Investment Counsel LLC lifted its holdings in NIKE by 118.8% during the 4th quarter. Marble Harbor Investment Counsel LLC now owns 60,005 shares of the footwear maker’s stock valued at $3,823,000 after purchasing an additional 32,575 shares during the last quarter. Adell Harriman & Carpenter Inc. lifted its holdings in NIKE by 23.7% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 4,370 shares of the footwear maker’s stock valued at $278,000 after purchasing an additional 838 shares during the last quarter. Finally, Intrust Bank NA lifted its holdings in NIKE by 8.9% during the 4th quarter. Intrust Bank NA now owns 5,228 shares of the footwear maker’s stock valued at $333,000 after purchasing an additional 426 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 0.5%

NKE opened at $44.40 on Friday. NIKE, Inc. has a fifty-two week low of $41.35 and a fifty-two week high of $80.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The company has a market capitalization of $65.75 billion, a P/E ratio of 29.40, a P/E/G ratio of 2.34 and a beta of 1.12. The stock has a fifty day moving average of $46.81 and a 200-day moving average of $57.41.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter last year, the business earned $0.54 earnings per share. NIKE’s revenue was up .1% on a year-over-year basis. On average, equities analysts expect that NIKE, Inc. will post 1.51 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a $0.41 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.7%. NIKE’s dividend payout ratio (DPR) is presently 108.61%.

Insider Buying and Selling

In related news, CEO Elliott Hill purchased 23,660 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The shares were bought at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the transaction, the chief executive officer owned 265,247 shares of the company’s stock, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director John W. Rogers, Jr. purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The stock was bought at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the transaction, the director directly owned 41,022 shares of the company’s stock, valued at $1,777,893.48. This trade represents a 10.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 64,441 shares of company stock worth $2,734,204 over the last three months. Company insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. CICC Research downgraded NIKE from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $69.00 to $58.00 in a report on Monday, April 6th. BTIG Research dropped their target price on NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Royal Bank Of Canada reissued a “buy” rating on shares of NIKE in a report on Wednesday, April 1st. DZ Bank reissued a “buy” rating on shares of NIKE in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of NIKE in a report on Monday, April 13th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.04.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE shares are benefiting from a shift into consumer and cyclical stocks as market breadth improves, helping lift sentiment around the name. Nike Stock Is Testing A Level That Could Define The Next Move
• Positive Sentiment: Lower energy prices and softer long-term Treasury yields are helping consumer discretionary stocks, including NIKE, by easing inflation worries and supporting expectations for resilient consumer spending. Nike Stock Soars As Energy Prices And Bond Yields Drop
• Neutral Sentiment: NIKE remains a heavily watched stock, with recent articles and trending searches suggesting investors are actively reassessing the name rather than reacting to a single fundamental catalyst. NIKE, Inc. (NKE) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Analyst and commentary pieces are focused on whether NIKE is ready for a turnaround, but they do not point to a clear near-term catalyst on their own. Is Nike Stock (NKE) Ready for a Turnaround?
• Negative Sentiment: Some recent analysis remains cautious, arguing NIKE is still not cheap enough or that the operating environment is tough, which could limit upside if investors demand clearer evidence of a rebound. Nike: Not Cheap Enough Yet

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).