Provence Wealth Management Group Acquires 1,399 Shares of NIKE, Inc. (NYSE:NKE)

Provence Wealth Management Group increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 57.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,838 shares of the footwear maker’s stock after acquiring an additional 1,399 shares during the period. Provence Wealth Management Group’s holdings in NIKE were worth $417,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Iron Horse Wealth Management LLC raised its stake in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after buying an additional 140 shares during the last quarter. Planned Solutions Inc. purchased a new position in shares of NIKE in the 4th quarter worth about $29,000. Mizuho Securities Co. Ltd. boosted its stake in NIKE by 100.0% in the 4th quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock worth $37,000 after purchasing an additional 170 shares in the last quarter. NewSquare Capital LLC grew its position in NIKE by 372.0% during the 4th quarter. NewSquare Capital LLC now owns 354 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 279 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its stake in NIKE by 134.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after purchasing an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price (down from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Jefferies Financial Group lowered their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Truist Financial restated a “hold” rating and issued a $111.00 target price on shares of NIKE in a report on Tuesday, March 19th. UBS Group dropped their price target on NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, TheStreet cut NIKE from a “b” rating to a “c+” rating in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Price Performance

Shares of NYSE NKE traded down $0.26 during mid-day trading on Friday, hitting $92.15. 5,736,711 shares of the company’s stock traded hands, compared to its average volume of 8,740,078. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $127.69. The company’s 50-day moving average is $95.73 and its two-hundred day moving average is $103.05. The company has a market capitalization of $139.09 billion, a P/E ratio of 27.10, a PEG ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last announced its 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 return on equity of 39.41% and a net margin of 10.14%. The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. On average, equities analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.61%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

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.