Avior Wealth Management LLC Acquires 5,220 Shares of NIKE, Inc. (NYSE:NKE)

Avior Wealth Management LLC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 18.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,037 shares of the footwear maker’s stock after acquiring an additional 5,220 shares during the quarter. Avior Wealth Management LLC’s holdings in NIKE were worth $3,009,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. Transcendent Capital Group LLC lifted its position in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares during the last quarter. VitalStone Financial LLC grew its position in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC increased its stake in NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in NIKE during the second quarter valued at about $44,000. Finally, MFA Wealth Advisors LLC bought a new stake in NIKE during the second quarter worth about $46,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of several recent research reports. UBS Group increased their price objective on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. TD Cowen decreased their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday. Royal Bank of Canada cut their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group lifted their target price on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company upped their price target on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $96.30.

NIKE Stock Down 1.3 %

Shares of NIKE stock opened at $73.92 on Wednesday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company has a 50-day moving average of $80.71 and a 200 day moving average of $82.90. The firm has a market cap of $110.83 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 earnings per share. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. NIKE’s dividend payout ratio is presently 42.41%.

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.