Wedbush Securities Inc. Has $2.40 Million Position in NIKE, Inc. $NKE

Wedbush Securities Inc. lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 45.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,413 shares of the footwear maker’s stock after purchasing an additional 10,797 shares during the period. Wedbush Securities Inc.’s holdings in NIKE were worth $2,400,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC lifted its stake in NIKE by 697.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 228,889 shares of the footwear maker’s stock valued at $15,960,000 after purchasing an additional 200,187 shares during the last quarter. Soros Fund Management LLC lifted its position in shares of NIKE by 33.0% during the 2nd quarter. Soros Fund Management LLC now owns 302,320 shares of the footwear maker’s stock valued at $21,477,000 after acquiring an additional 75,000 shares during the period. Brighton Jones LLC grew its stake in NIKE by 54.6% in the third quarter. Brighton Jones LLC now owns 104,791 shares of the footwear maker’s stock valued at $7,307,000 after acquiring an additional 37,019 shares during the period. Soltis Investment Advisors LLC lifted its position in NIKE by 238.8% in the 2nd quarter. Soltis Investment Advisors LLC now owns 141,356 shares of the footwear maker’s stock valued at $10,042,000 after acquiring an additional 99,638 shares in the last quarter. Finally, Banco Santander S.A. boosted its holdings in NIKE by 28.3% during the 2nd quarter. Banco Santander S.A. now owns 221,117 shares of the footwear maker’s stock worth $15,708,000 after acquiring an additional 48,764 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

NKE stock opened at $61.08 on Friday. The firm has a market cap of $90.42 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 3.19 and a beta of 1.27. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. The business’s fifty day simple moving average is $63.59 and its two-hundred day simple moving average is $67.97.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The business had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 EPS. Analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were paid a dividend of $0.41 per share. This is an increase from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, December 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.7%. NIKE’s dividend payout ratio (DPR) is currently 96.47%.

Insider Transactions at NIKE

In related news, CEO Elliott Hill bought 16,388 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The shares were purchased at an average cost of $61.10 per share, with a total value of $1,001,306.80. Following the completion of the acquisition, the chief executive officer directly owned 241,587 shares in the company, valued at approximately $14,760,965.70. The trade was a 7.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Holmes Swan bought 8,691 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were purchased at an average cost of $57.54 per share, with a total value of $500,080.14. Following the completion of the acquisition, the director owned 43,293 shares in the company, valued at approximately $2,491,079.22. This represents a 25.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 75,079 shares of company stock valued at $4,449,887. Corporate insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NKE shares. Sanford C. Bernstein restated a “buy” rating and issued a $85.00 target price on shares of NIKE in a research note on Tuesday, January 6th. Needham & Company LLC lowered shares of NIKE from a “buy” rating to a “hold” rating in a report on Thursday, January 8th. Guggenheim reaffirmed a “buy” rating on shares of NIKE in a research report on Wednesday, December 31st. Weiss Ratings upgraded shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Finally, Williams Trading cut their target price on NIKE from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $74.61.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).