Alliance Wealth Advisors LLC UT Acquires 1,459 Shares of NIKE, Inc. (NYSE:NKE)

Alliance Wealth Advisors LLC UT boosted its holdings in NIKE, Inc. (NYSE:NKE) by 19.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,147 shares of the footwear maker’s stock after acquiring an additional 1,459 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in NIKE were worth $692,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Range Financial Group LLC purchased a new stake in NIKE in the 4th quarter valued at $642,000. Cacti Asset Management LLC bought a new stake in shares of NIKE in the 4th quarter worth $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in shares of NIKE in the fourth quarter valued at about $5,384,000. FNY Investment Advisers LLC lifted its position in shares of NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares in the last quarter. Finally, Eagle Rock Investment Company LLC boosted its holdings in NIKE by 49.2% during the fourth quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock worth $4,589,000 after purchasing an additional 19,991 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on NKE. Bank of America dropped their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Evercore ISI cut their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Truist Financial lowered their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada reduced their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.77.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $76.79 on Wednesday. The stock’s 50-day simple moving average is $75.54 and its two-hundred day simple moving average is $78.09. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43. The firm has a market capitalization of $113.57 billion, a P/E ratio of 23.70, a P/E/G ratio of 2.50 and a beta of 1.01. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

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

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 49.38%.

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.