HighPoint Advisor Group LLC Buys Shares of 19,683 NIKE, Inc. (NYSE:NKE)

HighPoint Advisor Group LLC purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 19,683 shares of the footwear maker’s stock, valued at approximately $2,137,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Iron Horse Wealth Management LLC grew its position in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of NIKE in the 4th quarter valued at about $29,000. True Wealth Design LLC boosted its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of NIKE during the fourth quarter worth about $33,000. Finally, Core Wealth Advisors Inc. increased its position in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Down 0.2 %

NYSE NKE opened at $94.78 on Wednesday. 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, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $123.39. The stock has a market cap of $143.06 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. The stock has a 50 day simple moving average of $93.31 and a two-hundred day simple moving average of $100.21.

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

NIKE Announces Dividend

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

Insider Activity at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was 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 approximately $4,236,917.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 over the last 90 days. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on NKE shares. Jefferies Financial Group dropped their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Telsey Advisory Group dropped their price objective on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Piper Sandler cut their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Evercore ISI lowered their price target on NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Finally, StockNews.com upgraded NIKE from a “hold” rating to a “buy” rating in a report on Thursday, June 13th. Two 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.52.

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.