Lake Hills Wealth Management LLC Raises Stock Position in NIKE, Inc. (NYSE:NKE)

Lake Hills Wealth Management LLC grew its holdings in NIKE, Inc. (NYSE:NKE) by 32.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,433 shares of the footwear maker’s stock after purchasing an additional 847 shares during the quarter. Lake Hills Wealth Management LLC’s holdings in NIKE were worth $260,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC boosted its stake in shares of NIKE by 107.3% in the 4th quarter. SG Americas Securities LLC now owns 22,082 shares of the footwear maker’s stock valued at $1,671,000 after buying an additional 322,969 shares during the period. Evolution Wealth Advisors LLC raised its holdings in NIKE by 57.0% in the fourth quarter. Evolution Wealth Advisors LLC now owns 4,132 shares of the footwear maker’s stock valued at $313,000 after acquiring an additional 1,500 shares in the last quarter. Daymark Wealth Partners LLC lifted its stake in NIKE by 0.8% in the fourth quarter. Daymark Wealth Partners LLC now owns 110,855 shares of the footwear maker’s stock worth $8,388,000 after acquiring an additional 929 shares during the last quarter. XML Financial LLC grew its holdings in NIKE by 11.5% during the 4th quarter. XML Financial LLC now owns 2,991 shares of the footwear maker’s stock worth $226,000 after acquiring an additional 309 shares in the last quarter. Finally, Sheets Smith Wealth Management raised its holdings in shares of NIKE by 2.1% in the 4th quarter. Sheets Smith Wealth Management now owns 79,554 shares of the footwear maker’s stock valued at $6,020,000 after purchasing an additional 1,628 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 1.2 %

Shares of NKE opened at $74.07 on Thursday. The firm’s 50-day moving average is $75.59 and its two-hundred day moving average is $77.91. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $109.56 billion, a P/E ratio of 22.86, a PEG ratio of 2.33 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The business’s revenue was down 7.7% on a year-over-year basis. On average, research analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio is 49.38%.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. UBS Group reissued a “neutral” rating and issued a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Needham & Company LLC reissued a “buy” rating and set a $84.00 target price on shares of NIKE in a research report on Friday, December 20th. Stifel Nicolaus decreased their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Truist Financial cut their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Barclays lowered their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

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.