Atria Wealth Solutions Inc. Acquires 1,589 Shares of NIKE, Inc. (NYSE:NKE)

Atria Wealth Solutions Inc. increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,057 shares of the footwear maker’s stock after purchasing an additional 1,589 shares during the period. Atria Wealth Solutions Inc.’s holdings in NIKE were worth $3,561,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Annapolis Financial Services LLC boosted its position in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. True Wealth Design LLC raised its stake in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the period. Frank Rimerman Advisors LLC bought a new position in NIKE in the fourth quarter worth approximately $33,000. Core Wealth Advisors Inc. boosted its holdings in NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. acquired a new stake in NIKE in the fourth quarter valued at approximately $36,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NYSE NKE traded up $0.41 on Wednesday, hitting $83.97. 6,913,672 shares of the stock traded hands, compared to its average volume of 11,499,273. 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 business’s fifty day moving average is $79.47 and its two-hundred day moving average is $90.47. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The firm has a market capitalization of $126.74 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.92 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 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 firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.76%. NIKE’s payout ratio is 39.68%.

Insider Activity

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NKE. Telsey Advisory Group cut 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. Bank of America reduced their price objective on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday, June 28th. Evercore ISI decreased their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and raised their price target for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Finally, TD Cowen decreased their price objective on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.59.

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.