Avidian Wealth Solutions LLC Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Avidian Wealth Solutions LLC decreased its stake in NIKE, Inc. (NYSE:NKE) by 12.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,774 shares of the footwear maker’s stock after selling 809 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in NIKE were worth $627,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Iron Horse Wealth Management LLC lifted its holdings in NIKE by 120.7% in the 4th 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 in the last quarter. Planned Solutions Inc. purchased a new stake in NIKE during the 4th quarter valued at about $29,000. Raleigh Capital Management Inc. raised its holdings in NIKE by 134.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after acquiring an additional 216 shares during the last quarter. OFI Invest Asset Management purchased a new position in NIKE in the 3rd quarter worth approximately $37,000. Finally, Mizuho Securities Co. Ltd. boosted its holdings in shares of NIKE by 100.0% during the 4th quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock worth $37,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NKE. Oppenheimer lowered NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price objective on the stock. in a research note on Friday, February 16th. Barclays cut their price target on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Evercore ISI decreased their price objective on NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Robert W. Baird cut their target price on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Williams Trading reaffirmed a “sell” rating and issued a $85.00 price target (down previously from $92.00) on shares of NIKE in a research note on Monday, March 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Stock Up 1.2 %

Shares of NIKE stock traded up $1.09 during trading hours on Monday, hitting $93.24. The company had a trading volume of 3,544,530 shares, compared to its average volume of 9,213,632. The company’s 50-day moving average is $95.73 and its two-hundred day moving average is $103.04. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $127.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The company has a market cap of $140.73 billion, a P/E ratio of 27.27, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last posted its earnings results 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. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.59%. NIKE’s dividend payout ratio (DPR) is 43.53%.

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.