Forvis Mazars Wealth Advisors LLC Acquires 220 Shares of NIKE, Inc. (NYSE:NKE)

Forvis Mazars Wealth Advisors LLC raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,603 shares of the footwear maker’s stock after acquiring an additional 220 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in NIKE were worth $500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the 4th quarter valued at $28,000. Caitlin John LLC grew its holdings in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares during the period. Teachers Insurance & Annuity Association of America acquired a new position in shares of NIKE in the 3rd quarter valued at $30,000. Roxbury Financial LLC acquired a new position in shares of NIKE in the 4th quarter valued at $30,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of NIKE in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NKE. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $72.00 to $90.00 in a report on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price target on shares of NIKE in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. TD Cowen reduced their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Stock Up 5.0 %

Shares of NKE stock opened at $80.32 on Tuesday. 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 firm’s 50-day moving average is $74.37 and its 200-day moving average is $78.21. The stock has a market cap of $118.80 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 2.52 and a beta of 1.01. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $106.10.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations 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. Sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 1.99%. NIKE’s dividend payout ratio is currently 49.38%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction on Friday, December 27th. The stock was bought 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 approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

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.