Fortis Group Advisors LLC Raises Position in NIKE, Inc. $NKE

Fortis Group Advisors LLC lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 451.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,929 shares of the footwear maker’s stock after buying an additional 49,053 shares during the period. Fortis Group Advisors LLC’s holdings in NIKE were worth $3,873,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Beirne Wealth Consulting Services LLC purchased a new stake in NIKE in the 3rd quarter valued at $350,000. NEOS Investment Management LLC boosted its holdings in NIKE by 21.3% during the 3rd quarter. NEOS Investment Management LLC now owns 136,628 shares of the footwear maker’s stock worth $9,527,000 after acquiring an additional 23,991 shares during the last quarter. Cassaday & Co Wealth Management LLC grew its stake in shares of NIKE by 20.7% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 6,601 shares of the footwear maker’s stock worth $460,000 after acquiring an additional 1,133 shares in the last quarter. Rothschild Investment LLC raised its holdings in shares of NIKE by 110.1% in the third quarter. Rothschild Investment LLC now owns 161,772 shares of the footwear maker’s stock valued at $11,280,000 after purchasing an additional 84,763 shares during the last quarter. Finally, Glenview Trust Co raised its holdings in shares of NIKE by 0.4% in the third quarter. Glenview Trust Co now owns 185,132 shares of the footwear maker’s stock valued at $12,909,000 after purchasing an additional 774 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on NKE. Truist Financial set a $69.00 price target on shares of NIKE in a report on Wednesday, January 14th. UBS Group reissued a “neutral” rating on shares of NIKE in a research report on Monday, January 5th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $110.00 target price on shares of NIKE in a report on Monday, January 12th. Needham & Company LLC downgraded NIKE from a “buy” rating to a “hold” rating in a research report on Thursday, January 8th. Finally, Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.61.

NIKE Price Performance

Shares of NYSE NKE opened at $64.74 on Wednesday. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $63.55 and a two-hundred day simple moving average of $67.57. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The firm has a market cap of $95.84 billion, a price-to-earnings ratio of 38.08, a price-to-earnings-growth ratio of 3.23 and a beta of 1.27.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.19 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, March 2nd. NIKE’s dividend payout ratio (DPR) is currently 96.47%.

Insider Transactions at NIKE

In other NIKE news, CEO Elliott Hill purchased 16,388 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The shares were bought at an average cost of $61.10 per share, for a total transaction of $1,001,306.80. Following the purchase, the chief executive officer owned 241,587 shares of the company’s stock, valued at $14,760,965.70. This represents a 7.28% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Holmes Swan acquired 8,691 shares of NIKE stock in a transaction that occurred on Monday, December 22nd. The stock was acquired at an average price of $57.54 per share, with a total value of $500,080.14. Following the completion of the purchase, the director directly owned 43,293 shares in the company, valued at $2,491,079.22. This represents a 25.12% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 75,079 shares of company stock worth $4,449,887 over the last quarter. Corporate insiders own 0.80% of the company’s stock.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).