Wealth Alliance Lowers Position in NIKE, Inc. (NYSE:NKE)

Wealth Alliance cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,523 shares of the footwear maker’s stock after selling 240 shares during the quarter. Wealth Alliance’s holdings in NIKE were worth $925,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Morgan Stanley boosted its holdings in NIKE by 26.4% during the 4th quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock valued at $3,594,561,000 after acquiring an additional 6,410,744 shares during the period. Alliancebernstein L.P. boosted its stake in shares of NIKE by 7.2% in the 2nd quarter. Alliancebernstein L.P. now owns 22,371,886 shares of the footwear maker’s stock valued at $2,469,185,000 after buying an additional 1,493,704 shares during the period. FMR LLC boosted its stake in shares of NIKE by 0.7% in the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after buying an additional 125,746 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in shares of NIKE by 139,649.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock valued at $1,967,325,000 after buying an additional 16,801,276 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of NIKE by 4.5% in the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after buying an additional 674,198 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Piper Sandler decreased their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Oppenheimer lowered NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price on the stock. in a research report on Friday, February 16th. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and raised their target price for the stock from $110.00 to $113.00 in a research report on Thursday, April 11th. Stifel Nicolaus cut their target price on NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, TheStreet lowered NIKE from a “b” rating to a “c+” rating in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Stock Performance

NYSE NKE opened at $93.38 on Wednesday. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The stock has a market cap of $140.94 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.08. The business has a fifty day moving average of $98.65 and a 200-day moving average of $103.48. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.58%. NIKE’s payout ratio is currently 43.53%.

About NIKE

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.