Stone Summit Wealth LLC Has $1.40 Million Holdings in NIKE, Inc. (NYSE:NKE)

Stone Summit Wealth LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,435 shares of the footwear maker’s stock after selling 345 shares during the period. Stone Summit Wealth LLC’s holdings in NIKE were worth $1,395,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NKE. Newbridge Financial Services Group Inc. bought a new stake in shares of NIKE in the fourth quarter valued at about $108,000. Kestra Private Wealth Services LLC raised its holdings in NIKE by 46.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 100,832 shares of the footwear maker’s stock valued at $7,630,000 after acquiring an additional 31,750 shares in the last quarter. North Growth Management Ltd. raised its holdings in NIKE by 231.3% in the 4th quarter. North Growth Management Ltd. now owns 53,000 shares of the footwear maker’s stock valued at $4,036,000 after acquiring an additional 37,000 shares in the last quarter. Stephens Inc. AR lifted its position in shares of NIKE by 131.7% in the 4th quarter. Stephens Inc. AR now owns 82,712 shares of the footwear maker’s stock worth $6,259,000 after acquiring an additional 47,016 shares during the period. Finally, Robinson Value Management Ltd. acquired a new stake in shares of NIKE during the 4th quarter worth approximately $2,505,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 4.3 %

Shares of NKE opened at $68.69 on Monday. The firm has a market capitalization of $101.60 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $107.43. 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 business’s fifty day moving average price is $75.12 and its two-hundred day moving average price is $78.04.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. On average, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.33%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s payout ratio is 49.38%.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NKE. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Stifel Nicolaus reduced their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. UBS Group reissued a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Morgan Stanley cut their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Finally, Royal Bank of Canada decreased their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $88.62.

NIKE Company 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.