Goldenstone Wealth Management LLC Invests $912,000 in NIKE, Inc. $NKE

Goldenstone Wealth Management LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE) in the fourth quarter, Holdings Channel.com reports. The fund purchased 14,310 shares of the footwear maker’s stock, valued at approximately $912,000. NIKE makes up about 0.7% of Goldenstone Wealth Management LLC’s portfolio, making the stock its 29th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mizuho Markets Cayman LP acquired a new stake in NIKE in the 3rd quarter valued at approximately $34,200,000. PFA Pension Forsikringsaktieselskab acquired a new stake in NIKE in the 4th quarter valued at approximately $43,188,000. Strive Asset Management LLC acquired a new stake in NIKE in the 3rd quarter valued at approximately $1,743,000. Nicholas Company Inc. increased its holdings in NIKE by 33.3% in the 4th quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker’s stock valued at $7,878,000 after purchasing an additional 30,890 shares during the last quarter. Finally, Park National Corp OH increased its holdings in NIKE by 81.5% in the 4th quarter. Park National Corp OH now owns 431,055 shares of the footwear maker’s stock valued at $27,463,000 after purchasing an additional 193,514 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan bought 11,781 shares of NIKE stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average cost of $42.44 per share, with a total value of $499,985.64. Following the completion of the acquisition, the director owned 55,074 shares of the company’s stock, valued at approximately $2,337,340.56. This represents a 27.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. purchased 4,000 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were purchased at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the purchase, the director owned 41,022 shares of the company’s stock, valued at approximately $1,777,893.48. This trade represents a 10.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 64,441 shares of company stock valued at $2,734,204 over the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

NIKE Price Performance

Shares of NYSE:NKE opened at $44.20 on Thursday. The company has a 50-day simple moving average of $47.05 and a 200-day simple moving average of $57.55. NIKE, Inc. has a one year low of $41.35 and a one year high of $80.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The stock has a market capitalization of $65.45 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 2.25 and a beta of 1.12.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 1.51 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio is presently 108.61%.

Analyst Ratings Changes

Several analysts recently weighed in on NKE shares. BTIG Research dropped their target price on shares of NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Wells Fargo & Company set a $45.00 price target on shares of NIKE and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Jefferies Financial Group dropped their price target on shares of NIKE from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Robert W. Baird dropped their price target on shares of NIKE from $85.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Finally, Telsey Advisory Group dropped their price target on shares of NIKE from $65.00 to $55.00 and set a “market perform” rating for the company in a research note on Wednesday, April 1st. Sixteen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $62.04.

NIKE Company 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).