Forte Capital LLC ADV Buys 2,052 Shares of NIKE, Inc. (NYSE:NKE)

Forte Capital LLC ADV raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,579 shares of the footwear maker’s stock after buying an additional 2,052 shares during the period. NIKE accounts for approximately 1.3% of Forte Capital LLC ADV’s portfolio, making the stock its 23rd biggest holding. Forte Capital LLC ADV’s holdings in NIKE were worth $9,291,000 as of its most recent SEC filing.

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

NIKE Price Performance

NKE traded down $0.26 during midday trading on Friday, hitting $92.15. The company had a trading volume of 5,736,711 shares, compared to its average volume of 8,740,078. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The company has a market capitalization of $139.09 billion, a PE ratio of 27.10, a P/E/G ratio of 1.78 and a beta of 1.07. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $127.69. The firm’s 50-day simple moving average is $95.73 and its 200-day simple moving average is $103.05.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating 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%. Equities research analysts predict that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on NKE. 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. Wells Fargo & Company decreased their price objective on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Evercore ISI reduced their target price on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Truist Financial reaffirmed a “hold” rating and issued a $111.00 target price on shares of NIKE in a research report on Tuesday, March 19th. Finally, TheStreet lowered shares of NIKE from a “b” rating to a “c+” rating in a report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.