Summit Trail Advisors LLC Acquires 1,792 Shares of NIKE, Inc. (NYSE:NKE)

Summit Trail Advisors LLC grew its holdings in NIKE, Inc. (NYSE:NKE) by 16.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,384 shares of the footwear maker’s stock after purchasing an additional 1,792 shares during the quarter. Summit Trail Advisors LLC’s holdings in NIKE were worth $1,349,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Iron Horse Wealth Management LLC boosted its position in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing 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. raised its position in shares of NIKE by 134.2% during the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after buying an additional 216 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of NIKE in the third quarter valued at about $37,000. Finally, Mizuho Securities Co. Ltd. grew its position in NIKE by 100.0% during the fourth quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock worth $37,000 after buying an additional 170 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. HSBC decreased their price objective on shares of NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, January 22nd. Wedbush reissued an “outperform” rating and issued a $115.00 price target on shares of NIKE in a research note on Tuesday, April 30th. Truist Financial reiterated a “hold” rating and set a $111.00 price objective on shares of NIKE in a report on Tuesday, March 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price target (down from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Finally, Williams Trading restated a “sell” rating and set a $85.00 target price (down previously from $92.00) on shares of NIKE in a report on Monday, March 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Price Performance

NKE stock traded up $1.21 during midday trading on Monday, reaching $93.36. The company had a trading volume of 6,655,736 shares, compared to its average volume of 9,251,164. The company has a market capitalization of $140.91 billion, a P/E ratio of 27.46, a P/E/G ratio of 1.78 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $127.69. The firm has a 50-day moving average price of $95.73 and a 200-day moving average price of $103.04.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $12.28 billion. On average, research analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.59%. NIKE’s payout ratio is 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.