Goldstein Advisors LLC Purchases Shares of 2,398 NIKE, Inc. (NYSE:NKE)

Goldstein Advisors LLC acquired a new stake in NIKE, Inc. (NYSE:NKE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,398 shares of the footwear maker’s stock, valued at approximately $212,000.

Several other large investors have also made changes to their positions in the business. Kavar Capital Partners Group LLC boosted its holdings in shares of NIKE by 4.5% in the 3rd quarter. Kavar Capital Partners Group LLC now owns 57,340 shares of the footwear maker’s stock valued at $5,069,000 after acquiring an additional 2,463 shares during the last quarter. Frank Rimerman Advisors LLC boosted its holdings in shares of NIKE by 20.5% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 18,349 shares of the footwear maker’s stock valued at $1,622,000 after acquiring an additional 3,122 shares during the last quarter. Bristlecone Advisors LLC boosted its holdings in shares of NIKE by 14.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after acquiring an additional 11,665 shares during the last quarter. Mattern Capital Management LLC boosted its holdings in shares of NIKE by 7.3% in the 3rd quarter. Mattern Capital Management LLC now owns 90,992 shares of the footwear maker’s stock valued at $8,044,000 after acquiring an additional 6,159 shares during the last quarter. Finally, Modera Wealth Management LLC boosted its holdings in NIKE by 8.8% during the third quarter. Modera Wealth Management LLC now owns 8,983 shares of the footwear maker’s stock worth $794,000 after buying an additional 727 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’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 completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade 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 accessible through this link. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Guggenheim lowered their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler reissued a “neutral” rating and set a $80.00 price target on shares of NIKE in a report on Friday, September 20th. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and increased their price target for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Finally, Evercore ISI lowered their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.56.

NIKE Price Performance

Shares of NYSE NKE opened at $78.85 on Friday. The firm has a 50-day simple moving average of $82.71 and a 200-day simple moving average of $84.94. The stock has a market capitalization of $118.22 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the business earned $0.94 earnings per share. NIKE’s revenue was down 10.4% compared to the same quarter last year. On average, equities analysts predict that NIKE, Inc. will post 2.78 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.88%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is currently 42.41%.

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.