Private Advisor Group LLC Has $6.65 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Private Advisor Group LLC lifted its holdings in NIKE, Inc. (NYSE:NKE) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,274 shares of the footwear maker’s stock after buying an additional 2,108 shares during the period. Private Advisor Group LLC’s holdings in NIKE were worth $6,654,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ascent Wealth Partners LLC increased its position in shares of NIKE by 0.4% during the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after acquiring an additional 115 shares in the last quarter. Condor Capital Management increased its position in shares of NIKE by 0.4% during the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after acquiring an additional 116 shares in the last quarter. Lodestone Wealth Management LLC increased its position in shares of NIKE by 5.5% during the first quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock worth $211,000 after acquiring an additional 118 shares in the last quarter. Nvwm LLC increased its position in shares of NIKE by 1.0% during the first quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock worth $1,091,000 after acquiring an additional 120 shares in the last quarter. Finally, Stephens Consulting LLC increased its position in shares of NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after acquiring an additional 128 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $78.85 on Friday. The stock has a market capitalization of $118.22 billion, a P/E ratio of 22.59, a PEG ratio of 1.95 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average is $82.79 and its 200 day moving average is $85.06. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 EPS. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.78 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NKE shares. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Citigroup reduced their price objective on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a research report on Friday, June 28th. Finally, Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and upped their price objective for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $96.56.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

About NIKE

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.