NIKE, Inc. (NYSE:NKE) Stock Holdings Increased by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC raised its stake in NIKE, Inc. (NYSE:NKE) by 8.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 6,253 shares of the footwear maker’s stock after purchasing an additional 479 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in NIKE were worth $588,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Norges Bank acquired a new position in shares of NIKE in the fourth quarter worth $1,315,097,000. Price T Rowe Associates Inc. MD grew its stake in NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Capital International Investors increased its position in NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the last quarter. Jennison Associates LLC raised its stake in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after purchasing an additional 2,775,510 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its holdings in shares of NIKE by 13,094.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,563,253 shares of the footwear maker’s stock valued at $169,722,000 after buying an additional 1,551,405 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NKE. Raymond James restated a “market perform” rating on shares of NIKE in a report on Friday, June 28th. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Telsey Advisory Group reduced their price objective on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Evercore ISI decreased their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $83.00 target price (down from $116.00) on shares of NIKE in a report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Hold” and an average target price of $97.19.

NIKE Stock Performance

NIKE stock traded up $0.08 during trading hours on Wednesday, hitting $72.54. The stock had a trading volume of 21,331,696 shares, compared to its average volume of 11,132,691. The company has a 50-day moving average of $90.63 and a two-hundred day moving average of $96.64. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a fifty-two week low of $71.67 and a fifty-two week high of $123.39. The company has a market cap of $109.49 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the prior year, the company posted $0.66 earnings per share. NIKE’s revenue was down 1.6% on a year-over-year basis. On average, equities research analysts anticipate that NIKE, Inc. will post 3.17 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 2.04%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 over the last quarter. 0.50% of the stock is owned by company 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.