Cetera Investment Advisers Buys 40,649 Shares of NIKE, Inc. (NYSE:NKE)

Posted by on Jun 13th, 2023

Cetera Investment Advisers increased its stake in shares of NIKE, Inc. (NYSE:NKE – Get Rating) by 106.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,954 shares of the footwear maker’s stock after purchasing an additional 40,649 shares during the quarter. Cetera Investment Advisers’ holdings in NIKE were worth $9,238,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Secure Asset Management LLC grew its stake in shares of NIKE by 1.9% during the fourth quarter. Secure Asset Management LLC now owns 4,188 shares of the footwear maker’s stock worth $490,000 after acquiring an additional 79 shares during the last quarter. Rosenberg Matthew Hamilton increased its stake in NIKE by 3.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 2,556 shares of the footwear maker’s stock valued at $299,000 after purchasing an additional 80 shares in the last quarter. North Star Investment Management Corp. raised its holdings in shares of NIKE by 1.9% in the fourth quarter. North Star Investment Management Corp. now owns 4,538 shares of the footwear maker’s stock worth $531,000 after buying an additional 83 shares during the last quarter. Narwhal Capital Management raised its stake in NIKE by 0.7% in the 4th quarter. Narwhal Capital Management now owns 12,975 shares of the footwear maker’s stock worth $1,518,000 after acquiring an additional 86 shares during the last quarter. Finally, Essex Savings Bank lifted its position in NIKE by 1.3% during the 4th quarter. Essex Savings Bank now owns 6,857 shares of the footwear maker’s stock worth $802,000 after acquiring an additional 87 shares during the period. Institutional investors own 63.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NKE. Wells Fargo & Company reduced their price objective on NIKE from $146.00 to $142.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 22nd. Raymond James boosted their price target on NIKE from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, March 22nd. Piper Sandler raised their price objective on shares of NIKE from $105.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 22nd. Telsey Advisory Group boosted their target price on shares of NIKE from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Friday, March 17th. Finally, UBS Group upped their price objective on shares of NIKE from $151.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, March 22nd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.33.

Insider Buying and Selling

In other NIKE news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $126.03, for a total transaction of $35,540.46. Following the transaction, the vice president now directly owns 3,518 shares in the company, valued at $443,373.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $120.86, for a total transaction of $13,294,600.00. Following the sale, the chairman now directly owns 1,355,871 shares of the company’s stock, valued at approximately $163,870,569.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $126.03, for a total transaction of $35,540.46. Following the completion of the transaction, the vice president now owns 3,518 shares of the company’s stock, valued at approximately $443,373.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 229,492 shares of company stock valued at $27,437,715. Company insiders own 0.40% of the company’s stock.

NIKE Stock Up 0.9 %

NKE stock opened at $106.83 on Tuesday. The firm has a market cap of $164.20 billion, a PE ratio of 30.79, a PEG ratio of 2.50 and a beta of 1.11. NIKE, Inc. has a one year low of $82.22 and a one year high of $131.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.79 and a current ratio of 2.73. The firm’s 50 day moving average price is $118.19 and its 200-day moving average price is $119.08.

NIKE (NYSE:NKE – Get Rating) last posted its earnings results on Tuesday, March 21st. The footwear maker reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.24. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.48 billion. NIKE had a return on equity of 35.98% and a net margin of 10.82%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 earnings per share. On average, equities research analysts anticipate that NIKE, Inc. will post 3.24 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Monday, June 5th will be issued a $0.34 dividend. The ex-dividend date is Friday, June 2nd. This represents a $1.36 annualized dividend and a dividend yield of 1.27%. NIKE’s dividend payout ratio is currently 39.19%.

About NIKE

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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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