Legacy Capital Wealth Partners LLC Acquires 729 Shares of NIKE, Inc. (NYSE:NKE)

Legacy Capital Wealth Partners LLC grew its holdings in NIKE, Inc. (NYSE:NKE) by 9.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,627 shares of the footwear maker’s stock after acquiring an additional 729 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in NIKE were worth $937,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NKE. Oliver Luxxe Assets LLC grew its holdings in shares of NIKE by 2.9% during the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after buying an additional 1,041 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of NIKE during the fourth quarter worth about $8,034,000. Financial Gravity Asset Management Inc. grew its holdings in shares of NIKE by 2,332.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after buying an additional 176,476 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of NIKE by 10,184.3% during the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after buying an additional 384,357 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC grew its holdings in shares of NIKE by 55.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after buying an additional 69,363 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on NKE. Piper Sandler decreased their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $113.00 in a research report on Thursday, April 11th. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of NIKE in a research report on Wednesday, March 27th. TheStreet cut NIKE from a “b” rating to a “c+” rating in a report on Tuesday, January 9th. Finally, Barclays dropped their price target on NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Trading Up 0.2 %

NKE traded up $0.18 during midday trading on Friday, hitting $94.12. 6,115,744 shares of the company were exchanged, compared to its average volume of 9,124,711. The firm has a market capitalization of $142.06 billion, a P/E ratio of 27.68, a P/E/G ratio of 1.82 and a beta of 1.08. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68. The firm’s 50 day moving average price is $96.96 and its 200-day moving average price is $103.34. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion for 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%. As a group, equities analysts forecast that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

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

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.