Kingsview Wealth Management LLC Acquires 17,941 Shares of NIKE, Inc. (NYSE:NKE)

Kingsview Wealth Management LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 25.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,189 shares of the footwear maker’s stock after acquiring an additional 17,941 shares during the period. Kingsview Wealth Management LLC’s holdings in NIKE were worth $7,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Transcendent Capital Group LLC grew its holdings in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 200 shares in the last quarter. VitalStone Financial LLC grew its holdings in NIKE by 52.6% during the 3rd 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 grew its holdings in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares in the last quarter. Triad Wealth Partners LLC bought a new position in NIKE during the 2nd quarter worth about $44,000. Finally, MFA Wealth Advisors LLC bought a new position in NIKE during the 2nd quarter worth about $46,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NKE opened at $77.40 on Friday. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $116.05 billion, a PE ratio of 22.18, a P/E/G ratio of 1.82 and a beta of 1.03. The firm has a 50 day moving average of $80.51 and a two-hundred day moving average of $82.59.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the firm posted $0.94 EPS. On average, analysts anticipate that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The company also recently announced 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 represents a $1.60 annualized dividend and a dividend yield of 2.07%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s payout ratio is 42.41%.

Analyst Ratings Changes

NKE has been the topic of a number of recent analyst reports. Bank of America lowered their price target on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and raised their price target for the company from $67.00 to $93.00 in a report on Friday, August 16th. Barclays lowered their price target on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Telsey Advisory Group lowered their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Piper Sandler restated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a report on Friday, September 20th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $95.86.

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.