RWA Wealth Partners LLC Has $11.02 Million Position in NIKE, Inc. (NYSE:NKE)

RWA Wealth Partners LLC decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 38.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,624 shares of the footwear maker’s stock after selling 91,001 shares during the period. RWA Wealth Partners LLC’s holdings in NIKE were worth $11,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new position in shares of NIKE in the 4th quarter valued at $28,000. Caitlin John LLC grew its position in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Roxbury Financial LLC acquired a new position in NIKE during the fourth quarter worth about $30,000. LFA Lugano Financial Advisors SA lifted its holdings in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. acquired a new stake in shares of NIKE in the 4th quarter valued at approximately $30,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Down 3.8 %

NIKE stock opened at $63.32 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a market cap of $93.65 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $63.14 and a fifty-two week high of $98.04. The firm’s 50-day simple moving average is $74.16 and its 200 day simple moving average is $76.93.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue was down 9.1% on a year-over-year basis. During the same period last year, the business posted $0.98 earnings per share. Research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and increased their target price for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Deutsche Bank Aktiengesellschaft reduced their price target on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Finally, Truist Financial dropped their price objective on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a report on Friday, March 21st. Fifteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $87.38.

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.