NIKE, Inc. (NYSE:NKE) Shares Acquired by FORVIS Wealth Advisors LLC

FORVIS Wealth Advisors LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 8.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,951 shares of the footwear maker’s stock after buying an additional 636 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in NIKE were worth $747,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Royal London Asset Management Ltd. boosted its position in shares of NIKE by 8.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 561,020 shares of the footwear maker’s stock worth $53,662,000 after acquiring an additional 42,805 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its stake in shares of NIKE by 696.9% in the third quarter. Industrial Alliance Investment Management Inc. now owns 3,865 shares of the footwear maker’s stock valued at $367,000 after purchasing an additional 3,380 shares during the period. Old North State Trust LLC lifted its position in shares of NIKE by 4.7% during the 3rd quarter. Old North State Trust LLC now owns 4,344 shares of the footwear maker’s stock valued at $415,000 after acquiring an additional 196 shares during the period. Geo Capital Gestora de Recursos Ltd boosted its stake in shares of NIKE by 70.1% during the 3rd quarter. Geo Capital Gestora de Recursos Ltd now owns 49,727 shares of the footwear maker’s stock worth $4,755,000 after acquiring an additional 20,497 shares in the last quarter. Finally, Dana Investment Advisors Inc. grew its holdings in shares of NIKE by 2.1% in the 3rd quarter. Dana Investment Advisors Inc. now owns 8,104 shares of the footwear maker’s stock worth $775,000 after acquiring an additional 164 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 1.1 %

Shares of NKE traded down $0.80 during mid-day trading on Thursday, reaching $75.24. The company had a trading volume of 15,952,008 shares, compared to its average volume of 17,969,314. NIKE, Inc. has a fifty-two week low of $74.29 and a fifty-two week high of $123.39. The firm has a fifty day simple moving average of $92.19 and a 200-day simple moving average of $98.06. The stock has a market cap of $113.56 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 1.85 and a beta of 1.01. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. On average, sell-side analysts anticipate that NIKE, Inc. will post 3.32 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analysts Set New Price Targets

A number of analysts have commented on NKE shares. Stifel Nicolaus reiterated a “hold” rating and set a $88.00 target price (down from $117.00) on shares of NIKE in a research report on Friday, June 28th. UBS Group reissued a “neutral” rating and issued a $78.00 price objective on shares of NIKE in a research note on Friday, June 28th. The Goldman Sachs Group dropped their target price on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a report on Friday, June 28th. HSBC reduced their price target on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Finally, StockNews.com cut shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, NIKE currently has an average rating of “Hold” and a consensus target price of $97.19.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 168,378 shares of the company’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 completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,660 shares of company stock worth $19,946,333. Company insiders own 0.50% of the company’s stock.

NIKE Profile

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.