Keudell Morrison Wealth Management Makes New $1.93 Million Investment in NIKE, Inc. $NKE

Keudell Morrison Wealth Management purchased a new position in NIKE, Inc. (NYSE:NKE) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 30,312 shares of the footwear maker’s stock, valued at approximately $1,931,000.

A number of other large investors also recently modified their holdings of the stock. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of NIKE by 0.8% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 101,305 shares of the footwear maker’s stock valued at $6,454,000 after purchasing an additional 780 shares in the last quarter. Goldenstone Wealth Management LLC bought a new position in shares of NIKE in the fourth quarter valued at approximately $912,000. Griffin Asset Management Inc. lifted its holdings in shares of NIKE by 42.1% in the fourth quarter. Griffin Asset Management Inc. now owns 13,343 shares of the footwear maker’s stock valued at $850,000 after purchasing an additional 3,954 shares in the last quarter. Sierra Summit Advisors LLC lifted its holdings in shares of NIKE by 2.3% in the fourth quarter. Sierra Summit Advisors LLC now owns 32,027 shares of the footwear maker’s stock valued at $2,040,000 after purchasing an additional 734 shares in the last quarter. Finally, ABN Amro Investment Solutions lifted its holdings in shares of NIKE by 111.4% in the fourth quarter. ABN Amro Investment Solutions now owns 75,895 shares of the footwear maker’s stock valued at $4,835,000 after purchasing an additional 39,989 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NKE. UBS Group dropped their target price on NIKE from $58.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, April 1st. Royal Bank Of Canada restated a “buy” rating on shares of NIKE in a report on Wednesday, April 1st. KeyCorp dropped their target price on NIKE from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. Robert W. Baird dropped their target price on NIKE from $85.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Finally, BNP Paribas Exane decreased their price target on NIKE from $35.00 to $23.00 and set an “underperform” rating for the company in a research report on Wednesday, April 1st. Sixteen research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.04.

Insider Buying and Selling

In related news, Director Timothy D. Cook purchased 25,000 shares of NIKE stock in a transaction dated Friday, April 10th. The stock was bought at an average cost of $42.43 per share, for a total transaction of $1,060,750.00. Following the completion of the transaction, the director owned 130,480 shares in the company, valued at $5,536,266.40. This trade represents a 23.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Elliott Hill purchased 23,660 shares of NIKE stock in a transaction dated Monday, April 13th. The stock was bought at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the completion of the transaction, the chief executive officer owned 265,247 shares of the company’s stock, valued at $11,211,990.69. This represents a 9.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 64,441 shares of company stock valued at $2,734,204 in the last ninety days. 0.80% of the stock is owned by company insiders.

NIKE Stock Performance

NYSE:NKE opened at $44.40 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. The business has a fifty day simple moving average of $46.81 and a two-hundred day simple moving average of $57.41. NIKE, Inc. has a 1 year low of $41.35 and a 1 year high of $80.17. The company has a market capitalization of $65.75 billion, a P/E ratio of 29.40, a P/E/G ratio of 2.34 and a beta of 1.12.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same period last year, the business posted $0.54 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 1.51 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio (DPR) is currently 108.61%.

Key Stories Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE shares are benefiting from a shift into consumer and cyclical stocks as market breadth improves, helping lift sentiment around the name. Nike Stock Is Testing A Level That Could Define The Next Move
• Positive Sentiment: Lower energy prices and softer long-term Treasury yields are helping consumer discretionary stocks, including NIKE, by easing inflation worries and supporting expectations for resilient consumer spending. Nike Stock Soars As Energy Prices And Bond Yields Drop
• Neutral Sentiment: NIKE remains a heavily watched stock, with recent articles and trending searches suggesting investors are actively reassessing the name rather than reacting to a single fundamental catalyst. NIKE, Inc. (NKE) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Analyst and commentary pieces are focused on whether NIKE is ready for a turnaround, but they do not point to a clear near-term catalyst on their own. Is Nike Stock (NKE) Ready for a Turnaround?
• Negative Sentiment: Some recent analysis remains cautious, arguing NIKE is still not cheap enough or that the operating environment is tough, which could limit upside if investors demand clearer evidence of a rebound. Nike: Not Cheap Enough Yet

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).