Marietta Wealth Management LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE – Get Rating) by 5.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,908 shares of the footwear maker’s stock after selling 2,878 shares during the period. NIKE makes up about 1.4% of Marietta Wealth Management LLC’s portfolio, making the stock its 26th largest position. Marietta Wealth Management LLC’s holdings in NIKE were worth $6,716,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Integrated Investment Consultants LLC raised its holdings in NIKE by 11.0% during the fourth quarter. Integrated Investment Consultants LLC now owns 1,853 shares of the footwear maker’s stock worth $309,000 after buying an additional 183 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of NIKE by 26.2% in the 4th quarter. ProShare Advisors LLC now owns 494,736 shares of the footwear maker’s stock worth $82,459,000 after acquiring an additional 102,792 shares in the last quarter. Beese Fulmer Investment Management Inc. grew its stake in shares of NIKE by 8.5% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 5,258 shares of the footwear maker’s stock worth $876,000 after acquiring an additional 413 shares in the last quarter. Aurora Private Wealth Inc. bought a new stake in shares of NIKE in the 4th quarter worth $266,000. Finally, Desjardins Global Asset Management Inc. bought a new stake in shares of NIKE in the 4th quarter worth $1,841,000. Hedge funds and other institutional investors own 65.35% of the company’s stock.
Shares of NIKE stock opened at $105.62 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.18 and a current ratio of 3.06. NIKE, Inc. has a 52-week low of $103.46 and a 52-week high of $179.10. The stock has a market capitalization of $166.22 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 1.72 and a beta of 0.96. The company’s 50 day moving average price is $118.17 and its 200-day moving average price is $135.70.
NIKE (NYSE:NKE – Get Rating) last issued its earnings results on Monday, March 21st. The footwear maker reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.14. NIKE had a net margin of 13.06% and a return on equity of 43.04%. The firm had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.61 billion. During the same quarter last year, the business earned $0.90 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. As a group, equities research analysts forecast that NIKE, Inc. will post 3.68 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Monday, June 6th will be issued a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, June 3rd. NIKE’s dividend payout ratio is 32.19%.
Several research firms have recently issued reports on NKE. Wedbush reduced their target price on shares of NIKE from $163.00 to $139.00 in a research note on Friday, May 13th. StockNews.com began coverage on shares of NIKE in a research report on Thursday, March 31st. They set a “hold” rating for the company. Truist Financial increased their price target on shares of NIKE from $164.00 to $176.00 in a research report on Tuesday, March 22nd. HSBC reduced their price target on shares of NIKE from $140.00 to $132.00 and set a “hold” rating for the company in a research report on Tuesday, June 14th. Finally, Morgan Stanley restated an “overweight” rating and set a $159.00 price target on shares of NIKE in a research report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $160.33.
In related news, CFO Matthew Friend sold 9,032 shares of NIKE stock in a transaction on Monday, June 13th. The shares were sold at an average price of $110.52, for a total value of $998,216.64. Following the sale, the chief financial officer now owns 51,581 shares in the company, valued at $5,700,732.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Andrew Campion sold 14,203 shares of NIKE stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $120.61, for a total transaction of $1,713,023.83. Following the completion of the sale, the chief operating officer now owns 73,795 shares in the company, valued at approximately $8,900,414.95. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.
About NIKE (Get Rating)
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.
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