FORVIS Wealth Advisors LLC Acquires 636 Shares of NIKE, Inc. (NYSE:NKE)

FORVIS Wealth Advisors LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 8.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,951 shares of the footwear maker’s stock after buying an additional 636 shares during the period. FORVIS Wealth Advisors LLC’s holdings in NIKE were worth $747,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. GenTrust LLC lifted its stake in shares of NIKE by 10.2% in the first quarter. GenTrust LLC now owns 2,478 shares of the footwear maker’s stock worth $234,000 after buying an additional 230 shares during the last quarter. Veracity Capital LLC lifted its position in NIKE by 10.5% during the 1st quarter. Veracity Capital LLC now owns 3,507 shares of the footwear maker’s stock worth $330,000 after acquiring an additional 334 shares during the last quarter. AMI Asset Management Corp boosted its holdings in NIKE by 2.6% during the first quarter. AMI Asset Management Corp now owns 263,121 shares of the footwear maker’s stock valued at $24,728,000 after acquiring an additional 6,600 shares during the period. Tempus Wealth Planning LLC grew its position in shares of NIKE by 40.4% in the first quarter. Tempus Wealth Planning LLC now owns 3,622 shares of the footwear maker’s stock valued at $340,000 after purchasing an additional 1,043 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its stake in shares of NIKE by 0.9% in the first quarter. First Trust Direct Indexing L.P. now owns 29,202 shares of the footwear maker’s stock worth $2,744,000 after purchasing an additional 257 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE traded down $0.80 during trading hours on Thursday, hitting $75.24. The stock had a trading volume of 15,952,008 shares, compared to its average volume of 17,969,314. NIKE, Inc. has a 52 week low of $74.29 and a 52 week high of $123.39. The stock has a market capitalization of $113.56 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 1.85 and a beta of 1.01. The company’s fifty day moving average is $92.19 and its two-hundred day moving average is $98.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts anticipate that NIKE, Inc. will post 3.32 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.97%. NIKE’s payout ratio is 39.68%.

Insiders Place Their Bets

In other news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was 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 $68,357.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NKE. Evercore ISI decreased their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. BMO Capital Markets reduced their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Jefferies Financial Group dropped their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Barclays downgraded shares of NIKE from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $109.00 to $80.00 in a report on Friday, June 28th. Finally, Piper Sandler decreased their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $97.19.

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.