Avantax Advisory Services Inc. Increases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Avantax Advisory Services Inc. raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 9.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,307 shares of the footwear maker’s stock after acquiring an additional 3,788 shares during the period. Avantax Advisory Services Inc.’s holdings in NIKE were worth $4,258,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NKE. Diversified Trust Co increased its holdings in NIKE by 18.0% during the fourth quarter. Diversified Trust Co now owns 17,191 shares of the footwear maker’s stock worth $1,866,000 after buying an additional 2,619 shares during the last quarter. Winthrop Advisory Group LLC purchased a new position in NIKE in the fourth quarter valued at approximately $304,000. BKM Wealth Management LLC bought a new position in NIKE during the fourth quarter valued at $1,034,000. Bruce G. Allen Investments LLC purchased a new stake in NIKE in the fourth quarter worth $106,000. Finally, Dynamic Advisor Solutions LLC raised its stake in shares of NIKE by 39.0% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 36,340 shares of the footwear maker’s stock valued at $3,710,000 after buying an additional 10,202 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In other news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Johanna Nielsen sold 282 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,660 shares of company stock valued at $19,946,333. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $83.00 price objective (down from $116.00) on shares of NIKE in a report on Friday, June 28th. BMO Capital Markets reduced their price objective on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Piper Sandler dropped their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Finally, Evercore ISI reduced their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $96.44.

NIKE Trading Up 2.1 %

Shares of NYSE:NKE traded up $1.50 during trading on Tuesday, reaching $72.81. 19,939,944 shares of the company traded hands, compared to its average volume of 11,333,745. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 52-week low of $71.24 and a 52-week high of $123.39. The business’s fifty day moving average is $89.07 and its 200-day moving average is $95.64. The firm has a market capitalization of $109.90 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 1.88 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 earnings per share. As a group, analysts forecast that NIKE, Inc. will post 3.17 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a $0.37 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.03%. NIKE’s dividend payout ratio is currently 39.68%.

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.