SteelPeak Wealth LLC Has $3.39 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

SteelPeak Wealth LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 14.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 38,223 shares of the footwear maker’s stock after acquiring an additional 4,791 shares during the quarter. SteelPeak Wealth LLC’s holdings in NIKE were worth $3,393,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Azzad Asset Management Inc. ADV raised its holdings in NIKE by 1.7% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 20,339 shares of the footwear maker’s stock worth $1,911,000 after purchasing an additional 347 shares during the last quarter. Albion Financial Group UT raised its holdings in NIKE by 3.0% during the 1st quarter. Albion Financial Group UT now owns 5,223 shares of the footwear maker’s stock worth $491,000 after purchasing an additional 150 shares during the last quarter. Valley National Advisers Inc. raised its holdings in NIKE by 32.3% during the 1st quarter. Valley National Advisers Inc. now owns 2,273 shares of the footwear maker’s stock worth $213,000 after purchasing an additional 555 shares during the last quarter. Kovack Advisors Inc. raised its holdings in NIKE by 24.5% during the 1st quarter. Kovack Advisors Inc. now owns 2,469 shares of the footwear maker’s stock worth $232,000 after purchasing an additional 486 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its holdings in NIKE by 0.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 29,202 shares of the footwear maker’s stock worth $2,744,000 after purchasing an additional 257 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on NKE shares. TD Cowen raised their price target on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Wells Fargo & Company lifted their price objective on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, Guggenheim lowered their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NYSE:NKE traded down $1.29 during midday trading on Wednesday, reaching $77.11. The company had a trading volume of 7,472,074 shares, compared to its average volume of 11,543,065. The company’s 50 day moving average price is $82.52 and its 200 day moving average price is $84.72. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock has a market cap of $115.62 billion, a P/E ratio of 22.48, a P/E/G ratio of 1.90 and a beta of 1.02. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.76 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.92%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

NIKE 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.