Avior Wealth Management LLC Sells 1,654 Shares of NIKE, Inc. (NYSE:NKE)

Avior Wealth Management LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,383 shares of the footwear maker’s stock after selling 1,654 shares during the quarter. Avior Wealth Management LLC’s holdings in NIKE were worth $2,450,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Garrison Point Advisors LLC lifted its holdings in shares of NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after acquiring an additional 126 shares during the last quarter. Stephens Consulting LLC lifted its stake in NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares during the last quarter. PSI Advisors LLC boosted its position in shares of NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after buying an additional 130 shares during the period. Chapin Davis Inc. grew its stake in shares of NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after buying an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC raised its holdings in shares of NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after buying an additional 133 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

NYSE NKE opened at $74.44 on Friday. NIKE, Inc. has a 12-month low of $70.32 and a 12-month high of $107.43. The firm’s fifty day simple moving average is $75.54 and its two-hundred day simple moving average is $77.88. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $110.10 billion, a P/E ratio of 22.97, a P/E/G ratio of 2.33 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the business earned $1.03 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. Analysts forecast that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. NIKE’s dividend payout ratio (DPR) is 49.38%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NKE shares. Jefferies Financial Group upped their price objective on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft cut their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $72.00 to $90.00 in a report on Friday, January 10th. Guggenheim dropped their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, Telsey Advisory Group downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

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.