Soltis Investment Advisors LLC Has $12.90 Million Stake in NIKE, Inc. $NKE

Soltis Investment Advisors LLC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 8.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 202,466 shares of the footwear maker’s stock after purchasing an additional 16,109 shares during the quarter. NIKE accounts for about 0.8% of Soltis Investment Advisors LLC’s portfolio, making the stock its 17th largest holding. Soltis Investment Advisors LLC’s holdings in NIKE were worth $12,899,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NKE. Harris Associates L P bought a new position in NIKE in the 2nd quarter valued at about $621,525,000. Jennison Associates LLC increased its holdings in NIKE by 42.3% in the 3rd quarter. Jennison Associates LLC now owns 11,838,528 shares of the footwear maker’s stock valued at $825,501,000 after buying an additional 3,518,666 shares during the period. Ameriprise Financial Inc. increased its holdings in NIKE by 129.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,849,636 shares of the footwear maker’s stock valued at $411,951,000 after buying an additional 3,299,155 shares during the period. Flossbach Von Storch SE increased its holdings in NIKE by 29.3% in the 4th quarter. Flossbach Von Storch SE now owns 12,753,317 shares of the footwear maker’s stock valued at $812,514,000 after buying an additional 2,886,856 shares during the period. Finally, Sustainable Growth Advisers LP bought a new position in NIKE in the 3rd quarter valued at about $190,182,000. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan bought 11,781 shares of NIKE stock in a transaction on Tuesday, April 7th. The shares were purchased at an average cost of $42.44 per share, with a total value of $499,985.64. Following the acquisition, the director directly owned 55,074 shares of the company’s stock, valued at $2,337,340.56. The trade was a 27.21% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Elliott Hill bought 23,660 shares of NIKE stock in a transaction on Monday, April 13th. The shares were acquired at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the acquisition, the chief executive officer directly owned 265,247 shares in the company, valued at approximately $11,211,990.69. The trade was a 9.79% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is owned by insiders.

NIKE Trading Down 0.3%

Shares of NIKE stock opened at $41.88 on Friday. The firm has a market capitalization of $62.03 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average is $47.89 and its 200 day moving average is $58.11. NIKE, Inc. has a 1 year low of $41.70 and a 1 year high of $80.17.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The firm’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS. Equities research analysts forecast that NIKE, Inc. will post 1.51 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s payout ratio is presently 108.61%.

Wall Street Analyst Weigh In

Several research firms have commented on NKE. Sanford C. Bernstein reissued a “buy” rating on shares of NIKE in a report on Monday, May 11th. HSBC lowered shares of NIKE from a “buy” rating to a “hold” rating and decreased their target price for the company from $90.00 to $48.00 in a report on Monday, April 13th. CICC Research lowered shares of NIKE from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $69.00 to $58.00 in a report on Monday, April 6th. Guggenheim decreased their target price on shares of NIKE from $77.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Finally, BNP Paribas Exane decreased their target price on shares of NIKE from $35.00 to $23.00 and set an “underperform” rating on the stock in a report on Wednesday, April 1st. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, NIKE 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).