Golden State Wealth Management LLC Purchases 3,726 Shares of NIKE, Inc. (NYSE:NKE)

Golden State Wealth Management LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 143.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,321 shares of the footwear maker’s stock after acquiring an additional 3,726 shares during the quarter. Golden State Wealth Management LLC’s holdings in NIKE were worth $402,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after buying an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock worth $14,447,000 after buying an additional 17,888 shares during the period. IFP Advisors Inc raised its holdings in NIKE by 17.9% during the 4th quarter. IFP Advisors Inc now owns 11,806 shares of the footwear maker’s stock worth $894,000 after buying an additional 1,789 shares during the period. Nwam LLC raised its holdings in NIKE by 2.9% during the 4th quarter. Nwam LLC now owns 6,318 shares of the footwear maker’s stock worth $478,000 after buying an additional 176 shares during the period. Finally, Kovack Advisors Inc. raised its holdings in NIKE by 20.3% during the 4th quarter. Kovack Advisors Inc. now owns 8,323 shares of the footwear maker’s stock worth $630,000 after buying an additional 1,403 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on NKE shares. Wells Fargo & Company raised their target price on shares of NIKE from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 14th. Stifel Nicolaus dropped their target price on shares of NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Piper Sandler lifted their price objective on shares of NIKE from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Friday. BMO Capital Markets lowered their price objective on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Finally, Bank of America lifted their price objective on shares of NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $79.33.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan acquired 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $72.09 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $60.63 and its 200 day simple moving average is $67.60. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The company has a market cap of $106.63 billion, a price-to-earnings ratio of 33.38, a PEG ratio of 2.29 and a beta of 1.21.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.00%. The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the company earned $0.99 earnings per share. The company’s quarterly revenue was down 11.9% on a year-over-year basis. On average, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. NIKE’s dividend payout ratio is currently 53.16%.

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.