NIKE, Inc. (NYSE:NKE) Shares Bought by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC grew its stake in NIKE, Inc. (NYSE:NKE) by 8.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,963 shares of the footwear maker’s stock after purchasing an additional 7,630 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in NIKE were worth $7,665,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Scarborough Advisors LLC purchased a new position in NIKE during the fourth quarter worth about $42,000. SageView Advisory Group LLC boosted its stake in shares of NIKE by 192.9% in the fourth quarter. SageView Advisory Group LLC now owns 9,496 shares of the footwear maker’s stock valued at $989,000 after buying an additional 6,254 shares in the last quarter. Boltwood Capital Management grew its holdings in NIKE by 20.6% during the first quarter. Boltwood Capital Management now owns 3,372 shares of the footwear maker’s stock worth $317,000 after acquiring an additional 575 shares during the period. Moody National Bank Trust Division raised its position in NIKE by 1.5% in the first quarter. Moody National Bank Trust Division now owns 12,405 shares of the footwear maker’s stock worth $1,166,000 after acquiring an additional 182 shares in the last quarter. Finally, CWM LLC lifted its holdings in NIKE by 3.8% in the first quarter. CWM LLC now owns 41,705 shares of the footwear maker’s stock valued at $3,919,000 after acquiring an additional 1,517 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of a number of research analyst reports. Evercore ISI cut their price target 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. Bank of America dropped their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Sanford C. Bernstein lowered their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. BMO Capital Markets reduced their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Finally, KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

NIKE Stock Performance

NYSE:NKE opened at $82.14 on Wednesday. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The firm’s 50 day moving average is $82.05 and its two-hundred day moving average is $85.41. The company has a market cap of $123.98 billion, a P/E ratio of 22.02, a P/E/G ratio of 1.96 and a beta of 1.02. 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 (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. Analysts expect that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Announces Dividend

The company also recently announced 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on 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 directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

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.