Independent Solutions Wealth Management LLC Increases Stock Holdings in NIKE, Inc. $NKE

Independent Solutions Wealth Management LLC grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 28.2% in the second quarter, HoldingsChannel reports. The fund owned 16,970 shares of the footwear maker’s stock after purchasing an additional 3,732 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in NIKE were worth $1,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. TriaGen Wealth Management LLC purchased a new stake in NIKE in the 2nd quarter worth $246,000. Roundview Capital LLC raised its holdings in NIKE by 58.7% during the 2nd quarter. Roundview Capital LLC now owns 79,723 shares of the footwear maker’s stock valued at $5,664,000 after buying an additional 29,495 shares during the period. 626 Financial LLC purchased a new stake in NIKE in the second quarter worth $331,000. KLP Kapitalforvaltning AS boosted its position in NIKE by 3.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 450,158 shares of the footwear maker’s stock valued at $32,127,000 after buying an additional 15,200 shares during the period. Finally, Hardy Reed LLC increased its holdings in NIKE by 77.9% during the 2nd quarter. Hardy Reed LLC now owns 5,763 shares of the footwear maker’s stock worth $409,000 after purchasing an additional 2,524 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NKE. Cowen upgraded NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. UBS Group set a $71.00 price objective on shares of NIKE and gave the stock a “neutral” rating in a research note on Friday, September 19th. DZ Bank raised NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. Finally, Piper Sandler set a $84.00 price target on NIKE and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $81.57.

NIKE Trading Down 0.9%

Shares of NKE stock opened at $71.25 on Tuesday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76. The firm has a market capitalization of $105.23 billion, a P/E ratio of 36.54, a PEG ratio of 2.64 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The stock’s fifty day moving average is $74.46 and its two-hundred day moving average is $67.26.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the business posted $0.70 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. NIKE’s dividend payout ratio is presently 82.05%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is currently owned by company insiders.

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.