Spire Wealth Management Decreases Position in NIKE, Inc. (NYSE:NKE)

Spire Wealth Management lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,456 shares of the footwear maker’s stock after selling 819 shares during the period. Spire Wealth Management’s holdings in NIKE were worth $716,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Garrison Point Advisors LLC boosted its holdings 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 last quarter. Stephens Consulting LLC boosted its holdings in shares of NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after purchasing an additional 128 shares during the last quarter. PSI Advisors LLC boosted its holdings in shares of 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 purchasing an additional 130 shares during the last quarter. Chapin Davis Inc. boosted its holdings in shares of NIKE by 1.2% in the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after purchasing an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC boosted its holdings in shares of 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 purchasing an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $76.79 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average of $75.54 and a two-hundred day moving average of $78.09. The company has a market cap of $113.57 billion, a P/E ratio of 23.70, a PEG ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43.

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

NIKE Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the company from $72.00 to $90.00 in a report on Friday, January 10th. BMO Capital Markets boosted their price objective on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday. Stifel Nicolaus lowered 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. Finally, Truist Financial decreased their price target on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $89.77.

Insiders Place Their Bets

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

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.