Signal Advisors Wealth LLC Increases Stock Position in NIKE, Inc. (NYSE:NKE)

Signal Advisors Wealth LLC raised its position in shares of NIKE, Inc. (NYSE:NKE) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,601 shares of the footwear maker’s stock after buying an additional 269 shares during the quarter. Signal Advisors Wealth LLC’s holdings in NIKE were worth $526,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Iron Horse Wealth Management LLC increased its holdings in shares of NIKE by 120.7% during the fourth 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 in the last quarter. Planned Solutions Inc. bought a new position in shares of NIKE during the fourth quarter valued at $29,000. True Wealth Design LLC increased its holdings in shares of NIKE by 106.4% during the fourth 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 in the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of NIKE during the fourth quarter valued at $33,000. Finally, Core Wealth Advisors Inc. increased its holdings in shares of NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays reduced their price target on NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Truist Financial restated a “hold” rating and set a $99.00 price target on shares of NIKE in a report on Thursday. The Goldman Sachs Group reduced their price objective on NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Sanford C. Bernstein reduced their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Finally, Williams Trading reiterated a “sell” rating and issued a $85.00 price objective (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.81.

NIKE Stock Up 0.8 %

NKE stock opened at $95.55 on Friday. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $123.39. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The stock has a market cap of $144.22 billion, a P/E ratio of 28.10, a PEG ratio of 1.77 and a beta of 1.05. The business’s 50-day moving average price is $93.50 and its 200-day moving average price is $100.14.

NIKE (NYSE:NKE) last posted 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. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. On average, equities research analysts forecast that NIKE, Inc. will post 3.76 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.55%. NIKE’s dividend payout ratio is presently 43.53%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,660 shares of company stock valued at $19,946,333. 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.