B. Riley Wealth Advisors Inc. Lowers Position in NIKE, Inc. (NYSE:NKE)

B. Riley Wealth Advisors Inc. decreased its stake in NIKE, Inc. (NYSE:NKE) by 14.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,567 shares of the footwear maker’s stock after selling 8,458 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in NIKE were worth $5,400,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of NIKE during the 4th quarter worth about $236,000. Leo Wealth LLC purchased a new position in shares of NIKE during the fourth quarter worth about $423,000. Sivia Capital Partners LLC purchased a new position in shares of NIKE during the fourth quarter worth approximately $243,000. Rovin Capital UT ADV lifted its holdings in shares of NIKE by 92.8% during the fourth quarter. Rovin Capital UT ADV now owns 6,211 shares of the footwear maker’s stock worth $674,000 after purchasing an additional 2,990 shares during the period. Finally, Spartan Planning & Wealth Management purchased a new position in NIKE in the fourth quarter worth $182,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $115.00 price objective on shares of NIKE in a research note on Tuesday, April 30th. Citigroup reduced their target price on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Truist Financial reaffirmed a “hold” rating and issued a $111.00 price target on shares of NIKE in a report on Tuesday, March 19th. UBS Group decreased their price objective on shares of NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, Williams Trading reiterated a “sell” rating and issued a $85.00 price target (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $115.52.

NIKE Stock Up 1.7 %

NIKE stock opened at $95.00 on Tuesday. The firm has a market capitalization of $143.39 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 1.74 and a beta of 1.05. The firm’s fifty day moving average price is $93.24 and its two-hundred day moving average price is $100.34. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $123.39. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. On average, equities research analysts predict that NIKE, Inc. will post 3.76 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.56%. NIKE’s dividend payout ratio is currently 43.53%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock valued at $19,946,333 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

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.