Heritage Wealth Advisors Sells 890 Shares of NIKE, Inc. (NYSE:NKE)

Heritage Wealth Advisors trimmed its stake in shares of NIKE, Inc. (NYSE:NKEFree Report) by 60.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 581 shares of the footwear maker’s stock after selling 890 shares during the period. Heritage Wealth Advisors’ holdings in NIKE were worth $63,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of NKE. WealthPlan Investment Management LLC grew its holdings in shares of NIKE by 4,687.4% in the 3rd quarter. WealthPlan Investment Management LLC now owns 55,294 shares of the footwear maker’s stock valued at $5,287,000 after acquiring an additional 54,139 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of NIKE by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 632,393 shares of the footwear maker’s stock valued at $60,469,000 after buying an additional 40,243 shares during the last quarter. Sigma Planning Corp grew its stake in shares of NIKE by 4.7% in the third quarter. Sigma Planning Corp now owns 19,557 shares of the footwear maker’s stock valued at $1,870,000 after buying an additional 879 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in NIKE by 5.7% during the third quarter. Wealthspire Advisors LLC now owns 16,398 shares of the footwear maker’s stock worth $1,568,000 after buying an additional 884 shares during the last quarter. Finally, abrdn plc increased its holdings in NIKE by 0.5% during the third quarter. abrdn plc now owns 726,881 shares of the footwear maker’s stock worth $69,504,000 after buying an additional 3,513 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Up 0.4 %

NYSE NKE traded up $0.33 during mid-day trading on Tuesday, hitting $92.08. The company’s stock had a trading volume of 3,192,480 shares, compared to its average volume of 9,156,780. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $123.39. The firm has a market capitalization of $138.98 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 1.77 and a beta of 1.07. The company’s 50 day simple moving average is $93.02 and its 200 day simple moving average is $101.72. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKEGet Free Report) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share 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 company 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 year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.61%. NIKE’s dividend payout ratio is presently 43.53%.

Analyst Ratings Changes

A number of research analysts have recently commented on NKE shares. StockNews.com raised shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price objective (down previously from $110.00) on shares of NIKE in a report on Friday, March 22nd. Truist Financial reissued a “hold” rating and set a $111.00 price target on shares of NIKE in a report on Tuesday, March 19th. UBS Group decreased their target price on NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, Citigroup dropped their target price on shares of NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average price target of $116.26.

Read Our Latest Stock Analysis on NIKE

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other NIKE news, VP Johanna Nielsen sold 282 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 over the last 90 days. Insiders own 0.50% of the company’s stock.

About NIKE

(Free Report)

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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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