Exencial Wealth Advisors LLC Lowers Stock Holdings in NIKE, Inc. $NKE

Exencial Wealth Advisors LLC lowered its holdings in NIKE, Inc. (NYSE:NKE) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,258 shares of the footwear maker’s stock after selling 11,344 shares during the period. Exencial Wealth Advisors LLC’s holdings in NIKE were worth $4,795,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mizuho Markets Cayman LP purchased a new stake in NIKE during the third quarter valued at about $34,200,000. Strive Asset Management LLC purchased a new stake in NIKE during the third quarter valued at about $1,743,000. Park National Corp OH grew its position in NIKE by 81.5% during the fourth quarter. Park National Corp OH now owns 431,055 shares of the footwear maker’s stock valued at $27,463,000 after acquiring an additional 193,514 shares during the period. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD lifted its stake in shares of NIKE by 106.1% during the third quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD now owns 205,082 shares of the footwear maker’s stock worth $14,343,000 after purchasing an additional 105,569 shares in the last quarter. Finally, Aberdeen Group plc lifted its stake in shares of NIKE by 3.9% during the fourth quarter. Aberdeen Group plc now owns 1,914,243 shares of the footwear maker’s stock worth $121,956,000 after purchasing an additional 72,681 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Truist Financial reduced their price objective on NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. DA Davidson cut NIKE from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $72.00 to $46.00 in a research note on Thursday, April 2nd. Robert W. Baird reduced their price objective on NIKE from $85.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Wells Fargo & Company reduced their price objective on NIKE from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Finally, Barclays reduced their price objective on NIKE from $73.00 to $67.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Seventeen equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.34.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. purchased 4,000 shares of NIKE stock in a transaction that occurred on Thursday, April 9th. The stock was purchased at an average price of $43.34 per share, with a total value of $173,360.00. Following the completion of the acquisition, the director owned 41,022 shares of the company’s stock, valued at approximately $1,777,893.48. This trade represents a 10.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy D. Cook purchased 25,000 shares of NIKE stock in a transaction that occurred on Friday, April 10th. The stock was acquired at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the acquisition, the director directly owned 130,480 shares of the company’s stock, valued at $5,536,266.40. The trade was a 23.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 64,441 shares of company stock worth $2,734,204. Company insiders own 0.80% of the company’s stock.

NIKE Trading Down 0.3%

NYSE:NKE opened at $45.01 on Wednesday. The stock has a market cap of $66.65 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 2.39 and a beta of 1.31. NIKE, Inc. has a one year low of $42.09 and a one year 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 business’s 50-day simple moving average is $52.24 and its 200 day simple moving average is $59.97.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.NIKE’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.54 earnings per share. As a group, sell-side analysts predict that NIKE, Inc. will post 1.52 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were issued a $0.41 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.64 dividend on an annualized basis and a yield of 3.6%. NIKE’s dividend payout ratio is currently 108.61%.

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).