ARS Wealth Advisors Group LLC Boosts Stake in NIKE, Inc. (NYSE:NKE)

ARS Wealth Advisors Group LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 137.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,335 shares of the footwear maker’s stock after acquiring an additional 3,084 shares during the quarter. ARS Wealth Advisors Group LLC’s holdings in NIKE were worth $579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC raised its stake in shares of NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Planned Solutions Inc. purchased a new position in NIKE during the 4th quarter valued at about $29,000. Raleigh Capital Management Inc. grew its position in NIKE by 134.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after acquiring an additional 216 shares in the last quarter. Stephens Consulting LLC increased its stake in NIKE by 160.0% during the third quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock worth $37,000 after purchasing an additional 240 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in NIKE during the third quarter worth about $37,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Down 0.3 %

NIKE stock traded down $0.26 during trading on Friday, hitting $92.15. The company’s stock had a trading volume of 5,736,711 shares, compared to its average volume of 8,740,078. The stock has a market capitalization of $139.09 billion, a price-to-earnings ratio of 27.10, a P/E/G ratio of 1.78 and a beta of 1.07. The stock’s fifty day moving average is $95.73 and its 200 day moving average is $103.05. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $127.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. As a group, equities research analysts predict that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Truist Financial restated a “hold” rating and issued a $111.00 price objective on shares of NIKE in a report on Tuesday, March 19th. Piper Sandler cut their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Citigroup decreased their target price on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Morgan Stanley cut their price target on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. Finally, Williams Trading reaffirmed a “sell” rating and issued a $85.00 price target (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $116.26.

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.