Tectonic Advisors LLC Has $301,000 Stock Position in NIKE, Inc. (NYSE:NKE)

Tectonic Advisors LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 59.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,406 shares of the footwear maker’s stock after selling 4,947 shares during the quarter. Tectonic Advisors LLC’s holdings in NIKE were worth $301,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ascent Wealth Partners LLC lifted its holdings in shares of NIKE by 0.4% during the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after purchasing an additional 115 shares in the last quarter. Condor Capital Management lifted its stake in NIKE by 0.4% in the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after buying an additional 116 shares in the last quarter. Lodestone Wealth Management LLC boosted its holdings in shares of NIKE by 5.5% in the first quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after buying an additional 118 shares during the period. Nvwm LLC boosted its holdings in shares of NIKE by 1.0% in the first quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock valued at $1,091,000 after buying an additional 120 shares during the period. 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. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Down 0.2 %

NKE stock opened at $78.85 on Friday. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The stock has a market cap of $118.22 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a fifty day moving average price of $82.71 and a two-hundred day moving average price of $84.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

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

NIKE Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently commented on NKE. Wells Fargo & Company boosted their price objective on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. TD Cowen boosted their price target on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Guggenheim decreased their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Royal Bank of Canada dropped their target price on NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $96.56.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated 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 directly owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by company 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.