Moss Adams Wealth Advisors LLC Boosts Stake in NIKE, Inc. (NYSE:NKE)

Moss Adams Wealth Advisors LLC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 12.1% during the 4th quarter, Holdings Channel reports. The firm owned 5,753 shares of the footwear maker’s stock after acquiring an additional 620 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in NIKE were worth $626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Concord Wealth Partners lifted its position in shares of NIKE by 900.0% during the 3rd quarter. Concord Wealth Partners now owns 1,690 shares of the footwear maker’s stock valued at $162,000 after buying an additional 1,521 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in NIKE by 15.0% during the third quarter. Verdence Capital Advisors LLC now owns 4,028 shares of the footwear maker’s stock worth $385,000 after purchasing an additional 525 shares during the period. BluePath Capital Management LLC purchased a new position in NIKE in the 3rd quarter valued at approximately $130,000. Mackenzie Financial Corp grew its stake in NIKE by 37.1% in the 3rd quarter. Mackenzie Financial Corp now owns 1,221,314 shares of the footwear maker’s stock valued at $116,135,000 after buying an additional 330,754 shares in the last quarter. Finally, WESPAC Advisors LLC raised its holdings in NIKE by 11.5% during the 3rd quarter. WESPAC Advisors LLC now owns 11,551 shares of the footwear maker’s stock valued at $1,105,000 after acquiring an additional 1,196 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Oppenheimer lowered NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price target for the company. in a report on Friday, February 16th. Sanford C. Bernstein reduced their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Jefferies Financial Group lowered their price target on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Truist Financial reaffirmed a “hold” rating and set a $111.00 price objective on shares of NIKE in a research note on Tuesday, March 19th. Finally, Williams Trading reiterated a “sell” rating and issued a $85.00 target price (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $116.26.

NIKE Trading Down 0.2 %

NYSE:NKE traded down $0.19 during trading hours on Wednesday, reaching $93.59. The company’s stock had a trading volume of 5,372,445 shares, compared to its average volume of 9,174,146. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The firm has a market capitalization of $141.26 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 1.78 and a beta of 1.07. The firm has a 50-day simple moving average of $95.28 and a 200-day simple moving average of $102.91. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $126.46.

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

NIKE Dividend Announcement

The business also recently disclosed 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) 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.