Belpointe Asset Management LLC Raises Stock Holdings in NIKE, Inc. (NYSE:NKE)

Belpointe Asset Management LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKEFree Report) by 35.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,254 shares of the footwear maker’s stock after acquiring an additional 855 shares during the quarter. Belpointe Asset Management LLC’s holdings in NIKE were worth $353,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Iron Horse Wealth Management LLC increased its position in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Planned Solutions Inc. purchased a new stake in NIKE in the fourth quarter worth $29,000. Raleigh Capital Management Inc. increased its position in NIKE by 134.2% in the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after buying an additional 216 shares during the last quarter. Gold Investment Management Ltd. purchased a new stake in NIKE in the fourth quarter worth $36,000. Finally, Mizuho Securities Co. Ltd. increased its position in NIKE by 100.0% in the fourth quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock worth $37,000 after buying an additional 170 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Up 1.5 %

Shares of NYSE:NKE opened at $95.72 on Friday. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $123.39. The company has a market cap of $144.48 billion, a PE ratio of 28.15, a P/E/G ratio of 1.72 and a beta of 1.05. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The stock’s 50-day moving average is $92.66 and its 200 day moving average is $101.10.

NIKE (NYSE:NKEGet Free Report) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. Sell-side analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.55%. NIKE’s payout ratio is 43.53%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NKE shares. Jefferies Financial Group decreased their target price on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price target on shares of NIKE in a report on Tuesday, April 30th. Wells Fargo & Company cut their price target on NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and raised their price target for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. Finally, Piper Sandler cut their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $116.26.

Get Our Latest Stock Analysis on NIKE

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.

Further Reading

Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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