Marietta Wealth Management LLC Increases Holdings in NIKE, Inc. (NYSE:NKE)

Marietta Wealth Management LLC raised its stake in NIKE, Inc. (NYSE:NKE) by 0.3% during the 4th quarter, HoldingsChannel reports. The firm owned 43,750 shares of the footwear maker’s stock after acquiring an additional 139 shares during the quarter. Marietta Wealth Management LLC’s holdings in NIKE were worth $4,750,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Impact Partnership Wealth LLC grew its position in NIKE by 220.7% in the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 181 shares in the last quarter. Iron Horse Wealth Management LLC boosted its stake in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. acquired a new stake in NIKE during the 4th quarter valued at $29,000. Financial Freedom LLC acquired a new position in NIKE in the 4th quarter worth $29,000. Finally, Worth Asset Management LLC purchased a new position in NIKE in the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE traded up $0.61 during mid-day trading on Tuesday, reaching $93.71. 5,537,420 shares of the company traded hands, compared to its average volume of 9,508,338. The firm has a market cap of $141.44 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 1.79 and a beta of 1.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The stock has a fifty day simple moving average of $98.83 and a 200-day simple moving average of $103.49.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. Equities research analysts anticipate that NIKE, Inc. will post 3.7 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 annualized dividend and a dividend yield of 1.58%. NIKE’s dividend payout ratio (DPR) is 43.53%.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent analyst reports. TD Cowen reiterated a “market perform” rating and issued a $104.00 price target (down previously from $129.00) on shares of NIKE in a research note on Friday, December 22nd. Raymond James upped their target price on NIKE from $121.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, December 19th. TheStreet downgraded shares of NIKE from a “b” rating to a “c+” rating in a research report on Tuesday, January 9th. Piper Sandler cut their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Finally, Evercore ISI decreased their price objective on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

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.