NIKE, Inc. (NYSE:NKE) Stake Lessened by Fountainhead AM LLC

Fountainhead AM LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,419 shares of the footwear maker’s stock after selling 146 shares during the period. Fountainhead AM LLC’s holdings in NIKE were worth $806,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oliver Luxxe Assets LLC boosted its stake in NIKE by 2.9% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after purchasing an additional 1,041 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of NIKE in the 4th quarter valued at $8,034,000. Financial Gravity Asset Management Inc. lifted its stake in shares of NIKE by 2,332.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after purchasing an additional 176,476 shares during the last quarter. International Assets Investment Management LLC raised its holdings in NIKE by 10,184.3% in the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after acquiring an additional 384,357 shares during the period. Finally, Franklin Street Advisors Inc. NC raised its holdings in NIKE by 55.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after acquiring an additional 69,363 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NYSE:NKE traded down $0.15 during mid-day trading on Tuesday, reaching $94.04. 6,579,633 shares of the company’s stock were exchanged, compared to its average volume of 9,562,076. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68. The firm has a market capitalization of $141.94 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09. The business’s fifty day simple moving average is $97.63 and its two-hundred day simple moving average is $103.44. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

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

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. NIKE’s payout ratio is currently 43.53%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NKE. TheStreet cut shares of NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Piper Sandler reduced their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Jefferies Financial Group reduced their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Williams Trading reissued a “sell” rating and set a $85.00 price target (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Finally, Truist Financial reissued a “hold” rating and set a $111.00 price target on shares of NIKE in a research note on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $116.26.

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.