Octavia Wealth Advisors LLC Has $1.43 Million Holdings in NIKE, Inc. (NYSE:NKE)

Octavia Wealth Advisors LLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 8.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,825 shares of the footwear maker’s stock after buying an additional 1,542 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in NIKE were worth $1,432,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NKE. Range Financial Group LLC acquired a new position in shares of NIKE during the fourth quarter valued at about $642,000. Cacti Asset Management LLC bought a new stake in shares of NIKE during the 4th quarter valued at $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in NIKE in the 4th quarter worth approximately $5,384,000. FNY Investment Advisers LLC raised its holdings in shares of NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after acquiring an additional 8,504 shares in the last quarter. Finally, Eagle Rock Investment Company LLC lifted its holdings in shares of NIKE by 49.2% during the 4th quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock worth $4,589,000 after acquiring an additional 19,991 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

NIKE stock opened at $73.22 on Wednesday. The firm has a fifty day moving average of $75.66 and a 200-day moving average of $77.92. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. The firm has a market capitalization of $108.30 billion, a P/E ratio of 22.60, a PEG ratio of 2.25 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the business earned $1.03 EPS. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, analysts predict that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. NIKE’s payout ratio is currently 49.38%.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NKE. Barclays cut their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Morgan Stanley dropped their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Bank of America dropped their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Finally, Truist Financial dropped their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.96.

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.