Apollon Wealth Management LLC Buys 17,502 Shares of NIKE, Inc. (NYSE:NKE)

Apollon Wealth Management LLC grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 55.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,309 shares of the footwear maker’s stock after buying an additional 17,502 shares during the period. Apollon Wealth Management LLC’s holdings in NIKE were worth $5,353,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Oliver Luxxe Assets LLC raised its holdings in NIKE by 2.9% in the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after purchasing an additional 1,041 shares during the period. Louisiana State Employees Retirement System bought a new position in NIKE during the fourth quarter worth about $8,034,000. Financial Gravity Asset Management Inc. grew its stake in NIKE by 2,332.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after acquiring an additional 176,476 shares during the period. International Assets Investment Management LLC increased its holdings in shares of NIKE by 10,184.3% in the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after acquiring an additional 384,357 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC raised its position in shares of NIKE by 55.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after purchasing an additional 69,363 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NKE stock traded up $1.21 during midday trading on Monday, hitting $93.36. 6,655,736 shares of the company were exchanged, compared to its average volume of 9,251,164. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $127.69. The firm has a market capitalization of $140.91 billion, a P/E ratio of 27.46, a PEG ratio of 1.78 and a beta of 1.07. The firm’s 50 day moving average price is $95.51 and its two-hundred day moving average price is $102.97. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

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

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.59%. NIKE’s dividend payout ratio (DPR) is currently 43.53%.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research reports. Jefferies Financial Group lowered their target price on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Truist Financial restated a “hold” rating and set a $111.00 price objective on shares of NIKE in a report on Tuesday, March 19th. Sanford C. Bernstein lowered their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price target (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $115.00 price objective on shares of NIKE in a report on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

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.