Legacy Wealth Asset Management LLC Grows Stock Position in NIKE, Inc. (NYSE:NKE)

Legacy Wealth Asset Management LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,418 shares of the footwear maker’s stock after acquiring an additional 191 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in NIKE were worth $391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in shares of NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after buying an additional 9,689 shares during the period. FORA Capital LLC bought a new stake in shares of NIKE in the first quarter worth about $3,412,000. Lafayette Investments Inc. increased its holdings in NIKE by 90.7% during the 3rd quarter. Lafayette Investments Inc. now owns 46,097 shares of the footwear maker’s stock valued at $4,075,000 after purchasing an additional 21,922 shares during the period. Cetera Advisors LLC raised its position in NIKE by 85.5% during the 1st quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock valued at $8,298,000 after purchasing an additional 40,704 shares during the last quarter. Finally, Koshinski Asset Management Inc. purchased a new stake in NIKE in the 1st quarter worth approximately $713,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Jefferies Financial Group boosted their target price on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Barclays dropped their target price on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Bank of America cut their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Evercore ISI lowered their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, Piper Sandler reiterated a “neutral” rating and set a $80.00 target price on shares of NIKE in a report on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

NIKE Price Performance

NYSE NKE opened at $78.85 on Friday. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The stock has a 50-day moving average of $82.71 and a 200 day moving average of $84.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company has a market capitalization of $118.22 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.95 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 earnings per share. On average, sell-side analysts forecast that NIKE, Inc. will post 2.78 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.88%. NIKE’s payout ratio is 42.41%.

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.