WT Wealth Management Takes Position in NIKE, Inc. $NKE

by · The Cerbat Gem

WT Wealth Management purchased a new position in shares of NIKE, Inc. (NYSE:NKE – Free Report) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 27,222 shares of the footwear maker’s stock, valued at approximately $1,934,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mascoma Wealth Management LLC purchased a new position in shares of NIKE during the second quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC raised its holdings in shares of NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after buying an additional 362 shares during the period. Saudi Central Bank bought a new stake in shares of NIKE during the 1st quarter worth approximately $30,000. Matrix Trust Co boosted its holdings in NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares during the period. Finally, Twin Peaks Wealth Advisors LLC bought a new position in NIKE in the 2nd quarter valued at $31,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NKE has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their target price on NIKE from $100.00 to $86.00 and set a “buy” rating for the company in a research report on Monday, November 17th. Piper Sandler set a $84.00 price objective on shares of NIKE and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Stifel Nicolaus set a $68.00 target price on shares of NIKE and gave the stock a “hold” rating in a research note on Wednesday, October 1st. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Finally, Zacks Research upgraded NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Four research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.24.

Read Our Latest Stock Analysis on NKE

NIKE Stock Performance

NKE stock opened at $67.49 on Monday. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44. The firm has a market cap of $99.76 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 2.37 and a beta of 1.28. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The firm has a 50-day simple moving average of $65.40 and a two-hundred day simple moving average of $69.37.

NIKE (NYSE:NKE – Get Free Report) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. On average, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.64 annualized dividend and a yield of 2.4%. This is an increase from NIKE’s previous quarterly dividend of $0.40. NIKE’s payout ratio is 84.10%.

Insider Buying and Selling at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the completion of the transaction, the chairman owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. This represents a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.80% of the company’s stock.

About NIKE

(Free Report)

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.

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