Ritholtz Wealth Management Boosts Stake in NIKE, Inc. $NKE

Ritholtz Wealth Management raised its position in NIKE, Inc. (NYSE:NKE) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,392 shares of the footwear maker’s stock after buying an additional 453 shares during the period. Ritholtz Wealth Management’s holdings in NIKE were worth $667,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Brighton Jones LLC increased its stake in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares during the last quarter. GAMMA Investing LLC increased its stake in NIKE by 39.1% in the 1st quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker’s stock valued at $1,325,000 after buying an additional 5,863 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in NIKE by 9.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 177,009 shares of the footwear maker’s stock valued at $11,236,000 after buying an additional 14,748 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in NIKE by 8.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 140,764 shares of the footwear maker’s stock valued at $8,936,000 after buying an additional 10,679 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in NIKE by 8.2% in the 1st quarter. Blue Trust Inc. now owns 12,782 shares of the footwear maker’s stock valued at $811,000 after buying an additional 969 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.9%

Shares of NYSE:NKE opened at $67.46 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. NIKE, Inc. has a one year low of $52.28 and a one year high of $83.95. The company has a market cap of $99.72 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.48 and a beta of 1.29. The firm has a fifty day moving average price of $73.10 and a two-hundred day moving average price of $67.40.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the business posted $0.70 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is 82.05%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Truist Financial restated a “buy” rating and set a $85.00 price target on shares of NIKE in a research note on Wednesday, October 1st. KeyCorp set a $90.00 price target on shares of NIKE and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Jefferies Financial Group restated a “buy” rating and set a $115.00 price target on shares of NIKE in a research note on Monday, September 29th. Citigroup upgraded shares of NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Finally, Weiss Ratings upgraded shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.21.

Insiders Place Their Bets

In other news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.80% 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.