Connecticut Wealth Management LLC Acquires 1,101 Shares of NIKE, Inc. (NYSE:NKE)

Connecticut Wealth Management LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 9.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,417 shares of the footwear maker’s stock after acquiring an additional 1,101 shares during the period. Connecticut Wealth Management LLC’s holdings in NIKE were worth $1,348,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Iron Horse Wealth Management LLC lifted its holdings in shares of NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares during the period. Planned Solutions Inc. bought a new position in shares of NIKE during the 4th quarter worth about $29,000. Raleigh Capital Management Inc. lifted its holdings in shares of NIKE by 134.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after acquiring an additional 216 shares during the period. Stephens Consulting LLC lifted its holdings in NIKE by 160.0% during the 3rd quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock valued at $37,000 after purchasing an additional 240 shares during the last quarter. Finally, OFI Invest Asset Management bought a new position in NIKE during the 3rd quarter valued at about $37,000. 64.25% of the stock is owned by institutional investors.

NIKE Trading Down 0.3 %

NYSE NKE traded down $0.26 during trading on Friday, reaching $92.15. 5,736,711 shares of the stock traded hands, compared to its average volume of 8,740,078. The firm has a market cap of $139.09 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The stock’s 50-day moving average price is $95.73 and its 200 day moving average price is $103.04. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $127.69.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. Analysts predict that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s payout ratio is currently 43.53%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NKE. Stifel Nicolaus cut their price target on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Bank of America raised shares of NIKE from a “neutral” rating to a “buy” rating and lifted their price target for the company from $110.00 to $113.00 in a report on Thursday, April 11th. Piper Sandler cut their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Sanford C. Bernstein cut their price target on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Finally, Evercore ISI lowered their price objective on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services 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.