Rooted Wealth Advisors Inc. Invests $212,000 in NIKE, Inc. (NYSE:NKE)

Rooted Wealth Advisors Inc. bought a new stake in shares of NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,944 shares of the footwear maker’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. Garrison Point Advisors LLC increased its holdings in shares of NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after purchasing an additional 126 shares during the period. Stephens Consulting LLC lifted its holdings in shares of NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares during the period. PSI Advisors LLC grew its position in NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after buying an additional 130 shares during the last quarter. Meridian Financial Partners LLC increased its stake in NIKE by 1.6% in the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after buying an additional 133 shares during the period. Finally, Frisch Financial Group Inc. raised its position in NIKE by 4.7% during the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock worth $269,000 after buying an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Trading Up 1.4 %

Shares of NKE stock opened at $73.25 on Friday. The company has a market capitalization of $108.35 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 2.34 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $74.68 and a 200 day moving average price of $78.04. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $107.34.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The company’s revenue was down 7.7% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. NIKE’s dividend payout ratio is presently 49.38%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NKE shares. Wells Fargo & Company lowered their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. TD Cowen lowered their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Stifel Nicolaus cut their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Evercore ISI decreased their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

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.