Venturi Wealth Management LLC Increases Holdings in NIKE, Inc. (NYSE:NKE)

Venturi Wealth Management LLC raised its position in NIKE, Inc. (NYSE:NKE) by 355.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,263 shares of the footwear maker’s stock after purchasing an additional 5,669 shares during the quarter. Venturi Wealth Management LLC’s holdings in NIKE were worth $550,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Range Financial Group LLC purchased a new stake in NIKE in the 4th quarter worth about $642,000. Cacti Asset Management LLC purchased a new stake in NIKE in the 4th quarter worth about $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in NIKE in the 4th quarter worth about $5,384,000. Klein Pavlis & Peasley Financial Inc. raised its position in NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC raised its position in NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 1.0 %

Shares of NYSE NKE opened at $76.80 on Thursday. The firm has a market cap of $113.60 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 2.38 and a beta of 1.01. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $106.62. The company’s 50-day simple moving average is $74.34 and its 200-day simple moving average is $78.06. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 earnings per share. Equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. NIKE’s payout ratio is presently 49.38%.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NKE. Truist Financial dropped their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Morgan Stanley lowered their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Barclays reduced their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and set a $84.00 target price on shares of NIKE in a report on Friday, February 7th. Finally, UBS Group reissued a “neutral” rating and set a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

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.