Kestra Private Wealth Services LLC Has $8.60 Million Stake in NIKE, Inc. (NYSE:NKE)

Kestra Private Wealth Services LLC lifted its holdings in NIKE, Inc. (NYSE:NKE) by 20.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 79,174 shares of the footwear maker’s stock after buying an additional 13,444 shares during the period. Kestra Private Wealth Services LLC’s holdings in NIKE were worth $8,596,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NKE. Iron Horse Wealth Management LLC boosted its stake in NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Planned Solutions Inc. purchased a new position in shares of NIKE during the fourth quarter valued at approximately $29,000. Raleigh Capital Management Inc. grew its stake in shares of NIKE by 134.2% in 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 in the last quarter. Stephens Consulting LLC lifted its position in shares of NIKE by 160.0% during the 3rd quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock worth $37,000 after buying an additional 240 shares in the last quarter. Finally, OFI Invest Asset Management bought a new position in NIKE during the third quarter valued at about $37,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NKE has been the topic of several research analyst reports. Barclays dropped their price objective on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Bank of America upgraded NIKE from a “neutral” rating to a “buy” rating and increased their price target for the stock from $110.00 to $113.00 in a research note on Thursday, April 11th. Robert W. Baird decreased their price objective on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Jefferies Financial Group reduced their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Finally, TheStreet cut shares of NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Down 0.9 %

Shares of NKE traded down $0.86 during midday trading on Tuesday, hitting $93.20. 2,005,644 shares of the company’s stock traded hands, compared to its average volume of 9,285,076. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $140.67 billion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09. The firm’s fifty day moving average is $96.78 and its 200-day moving average is $103.33. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $128.68.

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

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a dividend of $0.37 per share. The ex-dividend date was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.59%. NIKE’s payout ratio is presently 43.53%.

NIKE Company 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.