Fortis Group Advisors LLC Buys 49,053 Shares of NIKE, Inc. $NKE

Fortis Group Advisors LLC grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 451.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 59,929 shares of the footwear maker’s stock after acquiring an additional 49,053 shares during the period. Fortis Group Advisors LLC’s holdings in NIKE were worth $3,873,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Beirne Wealth Consulting Services LLC bought a new position in shares of NIKE in the third quarter valued at approximately $350,000. NEOS Investment Management LLC lifted its stake in NIKE by 21.3% in the 3rd quarter. NEOS Investment Management LLC now owns 136,628 shares of the footwear maker’s stock worth $9,527,000 after purchasing an additional 23,991 shares in the last quarter. Cassaday & Co Wealth Management LLC boosted its holdings in NIKE by 20.7% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 6,601 shares of the footwear maker’s stock valued at $460,000 after purchasing an additional 1,133 shares during the period. Rothschild Investment LLC grew its position in shares of NIKE by 110.1% during the 3rd quarter. Rothschild Investment LLC now owns 161,772 shares of the footwear maker’s stock valued at $11,280,000 after purchasing an additional 84,763 shares in the last quarter. Finally, Glenview Trust Co increased its holdings in shares of NIKE by 0.4% in the third quarter. Glenview Trust Co now owns 185,132 shares of the footwear maker’s stock worth $12,909,000 after purchasing an additional 774 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert Holmes Swan purchased 8,691 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were acquired at an average price of $57.54 per share, with a total value of $500,080.14. Following the acquisition, the director directly owned 43,293 shares in the company, valued at approximately $2,491,079.22. The trade was a 25.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Elliott Hill acquired 16,388 shares of the firm’s stock in a transaction on Monday, December 29th. The stock was purchased at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the transaction, the chief executive officer directly owned 241,587 shares of the company’s stock, valued at approximately $14,760,965.70. This trade represents a 7.28% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 75,079 shares of company stock valued at $4,449,887. 0.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NKE has been the subject of several research analyst reports. Sanford C. Bernstein reissued a “buy” rating and set a $85.00 price objective on shares of NIKE in a research note on Tuesday, January 6th. Bank of America lowered their price target on NIKE from $84.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, December 19th. Deutsche Bank Aktiengesellschaft set a $67.00 price target on NIKE in a research report on Thursday, January 8th. Daiwa Securities Group decreased their price objective on shares of NIKE from $75.00 to $61.00 in a research report on Tuesday, December 23rd. Finally, Wells Fargo & Company set a $65.00 target price on shares of NIKE and gave the company an “overweight” rating in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.61.

NIKE Stock Performance

NYSE NKE opened at $64.74 on Wednesday. The company has a 50-day simple moving average of $63.55 and a two-hundred day simple moving average of $67.57. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The firm has a market cap of $95.84 billion, a price-to-earnings ratio of 38.08, a PEG ratio of 3.23 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 (NYSE:NKE) last released its earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.19 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.NIKE’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 EPS. On average, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a $0.41 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.64 annualized dividend and a yield of 2.5%. NIKE’s payout ratio is presently 96.47%.

NIKE Company Profile

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).