Ables Iannone Moore & Associates Inc. Buys New Position in NIKE, Inc. (NYSE:NKE)

Ables Iannone Moore & Associates Inc. bought a new stake in shares of NIKE, Inc. (NYSE:NKE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,170 shares of the footwear maker’s stock, valued at approximately $236,000.

A number of other hedge funds have also modified their holdings of NKE. Iron Horse Wealth Management LLC boosted its position in shares of 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 acquiring an additional 140 shares during the last quarter. Planned Solutions Inc. purchased a new stake in shares of NIKE in the fourth quarter valued at $29,000. True Wealth Design LLC raised its stake in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in shares of NIKE in the fourth quarter valued at $33,000. Finally, Core Wealth Advisors Inc. raised its stake in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on NKE. StockNews.com raised shares of NIKE from a “hold” rating to a “buy” rating in a research note on Thursday. Telsey Advisory Group reduced their price target on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, March 18th. UBS Group reduced their price target on shares of NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Truist Financial reaffirmed a “hold” rating and issued a $111.00 price target on shares of NIKE in a research note on Tuesday, March 19th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 price target (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $115.52.

NIKE Trading Up 1.7 %

NKE traded up $1.61 on Monday, hitting $95.00. The company had a trading volume of 6,361,063 shares, compared to its average volume of 9,148,333. The firm has a market cap of $143.39 billion, a P/E ratio of 27.91, a PEG ratio of 1.74 and a beta of 1.05. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $123.39. The company’s fifty day moving average price is $93.14 and its 200 day moving average price is $100.45. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, equities analysts expect that NIKE, Inc. will post 3.76 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio is presently 43.53%.

About NIKE

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.