906 Shares in NIKE, Inc. (NYSE:NKE) Purchased by Fiduciary Alliance LLC

Posted by Defense World Staff on Mar 27th, 2023

Fiduciary Alliance LLC purchased a new position in NIKE, Inc. (NYSE:NKE – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 906 shares of the footwear maker’s stock, valued at approximately $106,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fundamentun LLC grew its holdings in shares of NIKE by 6.9% during the fourth quarter. Fundamentun LLC now owns 27,001 shares of the footwear maker’s stock valued at $3,159,000 after buying an additional 1,753 shares during the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of NIKE by 3.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,556 shares of the footwear maker’s stock valued at $299,000 after buying an additional 80 shares during the last quarter. StrongBox Wealth LLC grew its holdings in shares of NIKE by 17.3% during the fourth quarter. StrongBox Wealth LLC now owns 2,951 shares of the footwear maker’s stock valued at $345,000 after buying an additional 435 shares during the last quarter. Aries Wealth Management grew its holdings in shares of NIKE by 0.8% during the fourth quarter. Aries Wealth Management now owns 11,494 shares of the footwear maker’s stock valued at $1,345,000 after buying an additional 90 shares during the last quarter. Finally, McLean Asset Management Corp purchased a new stake in shares of NIKE during the fourth quarter valued at approximately $244,000. Hedge funds and other institutional investors own 63.20% of the company’s stock.

Insider Activity at NIKE

In related news, Director Peter B. Henry bought 557 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The stock was bought at an average cost of $125.45 per share, with a total value of $69,875.65. Following the completion of the purchase, the director now owns 4,062 shares of the company’s stock, valued at approximately $509,577.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, Director Peter B. Henry acquired 557 shares of the company’s stock in a transaction on Tuesday, February 7th. The stock was acquired at an average cost of $125.45 per share, with a total value of $69,875.65. Following the purchase, the director now directly owns 4,062 shares of the company’s stock, valued at approximately $509,577.90. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Monique S. Matheson sold 5,000 shares of NIKE stock in a transaction on Friday, January 6th. The stock was sold at an average price of $124.00, for a total transaction of $620,000.00. Following the completion of the transaction, the executive vice president now directly owns 60,213 shares of the company’s stock, valued at $7,466,412. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NKE shares. Royal Bank of Canada set a $145.00 price target on shares of NIKE and gave the company an “outperform” rating in a report on Friday, March 17th. HSBC increased their price target on shares of NIKE from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, January 12th. Wedbush lowered their price objective on shares of NIKE from $145.00 to $139.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 22nd. Sanford C. Bernstein set a $122.00 price objective on shares of NIKE in a research report on Monday, January 2nd. Finally, OTR Global upgraded shares of NIKE from a “mixed” rating to a “positive” rating in a research report on Friday, March 10th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.07.

NIKE Stock Down 0.2 %

Shares of NKE stock opened at $120.71 on Monday. The company has a market capitalization of $187.17 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 3.54 and a beta of 1.10. NIKE, Inc. has a one year low of $82.22 and a one year high of $139.86. The company’s fifty day moving average price is $123.12 and its 200-day moving average price is $110.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.73 and a quick ratio of 1.78.

NIKE (NYSE:NKE – Get Rating) last posted its earnings results on Tuesday, March 21st. The footwear maker reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.24. The company had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.48 billion. NIKE had a net margin of 10.82% and a return on equity of 35.98%. NIKE’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company posted $0.87 earnings per share. Sell-side analysts expect that NIKE, Inc. will post 3.22 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 6th will be paid a dividend of $0.34 per share. The ex-dividend date is Friday, March 3rd. This represents a $1.36 annualized dividend and a yield of 1.13%. NIKE’s payout ratio is 39.19%.

NIKE Company Profile

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NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America, Europe, Middle East & Africa, Greater China, Asia Pacific & Latin America, Global Brand Divisions, Converse, and Corporate.