Fountainhead AM LLC Trims Holdings in NIKE, Inc. (NYSE:NKE)

Fountainhead AM LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,419 shares of the footwear maker’s stock after selling 146 shares during the quarter. Fountainhead AM LLC’s holdings in NIKE were worth $806,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of NKE. Iron Horse Wealth Management LLC raised its position in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Impact Partnership Wealth LLC grew its holdings 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 purchasing an additional 181 shares during the period. Planned Solutions Inc. acquired a new stake in NIKE in the fourth quarter valued at approximately $29,000. NewSquare Capital LLC grew its holdings in NIKE by 372.0% in the fourth quarter. NewSquare Capital LLC now owns 354 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 279 shares during the period. Finally, Raleigh Capital Management Inc. grew its holdings in NIKE by 134.2% in the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after purchasing an additional 216 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Down 0.2 %

Shares of NKE traded down $0.15 during mid-day trading on Tuesday, reaching $94.04. The company’s stock had a trading volume of 6,579,633 shares, compared to its average volume of 9,562,076. The company’s fifty day moving average price is $97.63 and its two-hundred day moving average price is $103.44. The stock has a market cap of $141.94 billion, a PE ratio of 27.66, a P/E/G ratio of 1.82 and a beta of 1.09. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio is presently 43.53%.

Wall Street Analysts Forecast Growth

Several analysts have commented on NKE shares. UBS Group dropped their price objective on NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Truist Financial reaffirmed a “hold” rating and issued a $111.00 price target on shares of NIKE in a research note on Tuesday, March 19th. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price target on shares of NIKE in a research note on Wednesday, March 27th. Williams Trading reissued a “sell” rating and set a $85.00 price objective (down previously from $92.00) on shares of NIKE in a research note on Monday, March 18th. Finally, Piper Sandler lowered their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Two research 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.26.

NIKE Company 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.