Naviter Wealth LLC Acquires 2,413 Shares of NIKE, Inc. (NYSE:NKE)

Naviter Wealth LLC increased its stake in NIKE, Inc. (NYSE:NKE) by 25.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,963 shares of the footwear maker’s stock after acquiring an additional 2,413 shares during the quarter. Naviter Wealth LLC’s holdings in NIKE were worth $1,303,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NKE. FMR LLC increased its holdings in NIKE by 0.7% during the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock worth $1,769,200,000 after purchasing an additional 125,746 shares in the last quarter. Northern Trust Corp raised its position in NIKE by 4.5% in the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after buying an additional 674,198 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in NIKE by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock worth $766,829,000 after acquiring an additional 89,947 shares during the last quarter. Newport Trust Company LLC bought a new stake in shares of NIKE in the 3rd quarter worth $679,775,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of NIKE by 37.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock valued at $553,786,000 after purchasing an additional 1,583,541 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein reduced their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 price target (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. UBS Group reduced their price objective on NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Williams Trading reiterated a “sell” rating and set a $85.00 target price (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Finally, Piper Sandler lowered their price objective 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 research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $116.26.

NIKE Trading Down 1.3 %

Shares of NKE stock opened at $92.80 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The business has a 50-day moving average of $96.78 and a 200 day moving average of $103.33. The stock has a market capitalization of $140.07 billion, a PE ratio of 27.67, a P/E/G ratio of 1.82 and a beta of 1.09. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, sell-side analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s payout ratio is 43.53%.

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.