WealthTrak Capital Management LLC Takes Position in NIKE, Inc. (NYSE:NKE)

WealthTrak Capital Management LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 633 shares of the footwear maker’s stock, valued at approximately $48,000.

Several other large investors have also recently bought and sold shares of NKE. Caitlin John LLC raised its stake in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in NIKE during the fourth quarter worth $28,000. Roxbury Financial LLC bought a new stake in NIKE during the fourth quarter worth $30,000. LFA Lugano Financial Advisors SA lifted its stake in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in shares of NIKE in the 4th quarter valued at about $30,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NKE. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the company from $72.00 to $90.00 in a report on Friday, January 10th. Needham & Company LLC reduced their target price on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Bank of America decreased their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company reduced their price objective on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Finally, Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $102.00 to $72.00 in a report on Friday, February 7th. Fifteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $87.38.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

NIKE Stock Down 3.8 %

Shares of NKE opened at $63.32 on Friday. The firm has a 50 day simple moving average of $74.16 and a two-hundred day simple moving average of $76.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a one year low of $63.14 and a one year high of $98.04. The company has a market cap of $93.65 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. Research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. NIKE’s payout ratio is currently 53.16%.

NIKE Company 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.