NIKE, Inc. $NKE Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC grew its stake in NIKE, Inc. (NYSE:NKE) by 2,559.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 758,707 shares of the footwear maker’s stock after purchasing an additional 730,176 shares during the period. Kingsview Wealth Management LLC’s holdings in NIKE were worth $48,337,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NKE. Guerra Advisors Inc acquired a new stake in NIKE during the third quarter worth about $34,000. Gordian Capital Singapore Pte Ltd acquired a new stake in NIKE during the third quarter worth about $35,000. Accredited Wealth Management LLC raised its stake in NIKE by 268.6% during the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock worth $36,000 after acquiring an additional 376 shares during the period. Strive Asset Management LLC acquired a new stake in NIKE during the third quarter worth about $40,000. Finally, Matrix Trust Co raised its stake in NIKE by 43.6% during the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 181 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NYSE NKE opened at $45.96 on Thursday. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $46.05 and a 200-day simple moving average of $56.93. The company has a market cap of $68.06 billion, a PE ratio of 30.44, a P/E/G ratio of 2.38 and a beta of 1.12. NIKE, Inc. has a 12-month low of $41.35 and a 12-month high of $80.17.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. The business had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 earnings per share. On average, equities research analysts forecast that NIKE, Inc. will post 1.51 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $0.41 per share. The ex-dividend date is Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.6%. NIKE’s payout ratio is currently 108.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of NIKE from $73.00 to $67.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. DA Davidson lowered shares of NIKE from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $72.00 to $46.00 in a research note on Thursday, April 2nd. Truist Financial dropped their price objective on shares of NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of NIKE in a research note on Monday, April 13th. Finally, Wall Street Zen upgraded shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $62.04.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan acquired 11,781 shares of NIKE stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average cost of $42.44 per share, for a total transaction of $499,985.64. Following the completion of the transaction, the director owned 55,074 shares in the company, valued at approximately $2,337,340.56. This represents a 27.21% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Elliott Hill acquired 23,660 shares of NIKE stock in a transaction dated Monday, April 13th. The shares were acquired at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the completion of the transaction, the chief executive officer owned 265,247 shares of the company’s stock, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 64,441 shares of company stock valued at $2,734,204. Corporate insiders own 0.80% of the company’s stock.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).