Klein Pavlis & Peasley Financial Inc. Invests $1.74 Million in NIKE, Inc. (NYSE:NKE)

Klein Pavlis & Peasley Financial Inc. acquired a new position in shares of NIKE, Inc. (NYSE:NKE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 19,711 shares of the footwear maker’s stock, valued at approximately $1,742,000. NIKE accounts for 1.4% of Klein Pavlis & Peasley Financial Inc.’s holdings, making the stock its 25th biggest holding.

Several other hedge funds have also added to or reduced their stakes in the business. Ascent Wealth Partners LLC raised its stake in NIKE by 0.4% during the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after buying an additional 115 shares during the period. Condor Capital Management raised its stake in shares of NIKE by 0.4% in the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after purchasing an additional 116 shares during the period. Lodestone Wealth Management LLC raised its stake in shares of NIKE by 5.5% in the 1st quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after purchasing an additional 118 shares during the period. Nvwm LLC raised its stake in shares of NIKE by 1.0% in the 1st quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock valued at $1,091,000 after purchasing an additional 120 shares during the period. Finally, Garrison Point Advisors LLC raised its stake in shares of NIKE by 1.9% in the 3rd 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. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock opened at $78.85 on Monday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The stock has a market cap of $119.01 billion, a price-to-earnings ratio of 21.14, a P/E/G ratio of 1.95 and a beta of 1.02. The company’s fifty day moving average is $82.71 and its 200 day moving average is $84.91.

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

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.88%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NKE shares. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and lifted their target price for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Bank of America reduced their price target on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Royal Bank of Canada reduced their price target on NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group lifted their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

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.