Atria Wealth Solutions Inc. Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

Atria Wealth Solutions Inc. lifted its stake in NIKE, Inc. (NYSE:NKE) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,511 shares of the footwear maker’s stock after buying an additional 5,351 shares during the period. Atria Wealth Solutions Inc.’s holdings in NIKE were worth $5,934,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Newport Trust Company LLC bought a new stake in shares of NIKE in the third quarter worth about $679,775,000. Flossbach Von Storch AG grew its stake in shares of NIKE by 433.5% in the third quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock worth $394,775,000 after purchasing an additional 3,354,677 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of NIKE by 117.0% in the third quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker’s stock worth $285,564,000 after purchasing an additional 1,610,273 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of NIKE by 37.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock worth $553,786,000 after purchasing an additional 1,583,541 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in NIKE during the 3rd quarter valued at approximately $97,724,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of several research reports. Stifel Nicolaus cut their price objective on NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $113.00 in a research report on Thursday, April 11th. Sanford C. Bernstein cut their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Morgan Stanley cut their price objective on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. Finally, Telsey Advisory Group cut their price objective on NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty 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 an average price target of $116.26.

NIKE Stock Performance

NKE traded up $1.15 during mid-day trading on Friday, reaching $95.09. 869,818 shares of the company traded hands, compared to its average volume of 9,362,333. The stock has a market capitalization of $143.53 billion, a P/E ratio of 27.63, a P/E/G ratio of 1.83 and a beta of 1.08. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The company’s fifty day moving average price is $97.15 and its 200-day moving average price is $103.32. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $128.68.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $12.28 billion. On average, sell-side analysts expect that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, March 1st. NIKE’s payout ratio is 43.53%.

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.