Kovack Advisors Inc. Has $232,000 Stock Holdings in NIKE, Inc. (NYSE:NKE)

Kovack Advisors Inc. lifted its stake in NIKE, Inc. (NYSE:NKEFree Report) by 24.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,469 shares of the footwear maker’s stock after acquiring an additional 486 shares during the quarter. Kovack Advisors Inc.’s holdings in NIKE were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Iron Horse Wealth Management LLC increased its stake in shares of 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 acquiring an additional 140 shares during the last quarter. Annapolis Financial Services LLC lifted its stake in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of NIKE during the 4th quarter worth $29,000. True Wealth Design LLC grew its stake in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the last quarter. Finally, Core Wealth Advisors Inc. raised its holdings in NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NIKE news, VP Johanna Nielsen sold 282 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction dated 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 $102,648,662.60. The disclosure for this sale can be found here. Insiders sold 213,660 shares of company stock worth $19,946,333 in the last quarter. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of a number of recent analyst reports. Stifel Nicolaus restated a “hold” rating and set a $88.00 price target (down from $117.00) on shares of NIKE in a report on Friday, June 28th. Telsey Advisory Group lowered their target price on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Royal Bank of Canada cut their price target on NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a report on Tuesday. Oppenheimer restated an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a research note on Friday, June 28th. Finally, Guggenheim cut their target price on shares of NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $97.19.

Check Out Our Latest Stock Report on NIKE

NIKE Trading Up 0.3 %

Shares of NKE opened at $75.44 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The company has a market cap of $113.87 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 1.85 and a beta of 1.01. The stock has a fifty day moving average price of $91.44 and a two-hundred day moving average price of $97.58. NIKE, Inc. has a 52-week low of $74.29 and a 52-week high of $123.39.

NIKE (NYSE:NKEGet Free Report) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the previous year, the business posted $0.66 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Analysts predict that NIKE, Inc. will post 3.29 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio is currently 39.68%.

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.

See Also

Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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