NIKE, Inc. (NYSE:NKE) Stake Lifted by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 11.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 39,973 shares of the footwear maker’s stock after buying an additional 3,963 shares during the quarter. Soltis Investment Advisors LLC’s holdings in NIKE were worth $3,025,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in NIKE by 6,029.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after acquiring an additional 6,709,985 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in NIKE by 1,209,638.7% during the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after purchasing an additional 6,507,856 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in NIKE by 358.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after buying an additional 2,357,745 shares in the last quarter. State Street Corp grew its position in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after buying an additional 1,862,021 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in shares of NIKE in the third quarter valued at $148,635,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 4.3 %

NKE opened at $68.69 on Monday. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The business has a 50 day moving average price of $75.12 and a 200 day moving average price of $78.04. The firm has a market cap of $101.60 billion, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its quarterly earnings data 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. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. Research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.33%. NIKE’s payout ratio is presently 49.38%.

Analyst Ratings Changes

NKE has been the topic of a number of recent research reports. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Wells Fargo & Company dropped their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Bank of America reduced their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Fifteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by insiders.

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.