Arete Wealth Advisors LLC Has $1.93 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Arete Wealth Advisors LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 256.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,467 shares of the footwear maker’s stock after buying an additional 18,315 shares during the quarter. Arete Wealth Advisors LLC’s holdings in NIKE were worth $1,927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Range Financial Group LLC bought a new position in shares of NIKE during the 4th quarter valued at about $642,000. Cacti Asset Management LLC acquired a new stake in NIKE during the 4th quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd bought a new position in NIKE in the fourth quarter valued at approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after buying an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC increased its position in shares of NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after acquiring an additional 8,504 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NYSE NKE opened at $55.49 on Friday. NIKE, Inc. has a 52-week low of $55.40 and a 52-week high of $98.04. The stock has a market cap of $82.07 billion, a PE ratio of 17.13, a P/E/G ratio of 2.52 and a beta of 1.02. The firm has a 50-day moving average of $73.28 and a 200-day moving average of $76.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period last year, the business posted $0.98 earnings per share. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s dividend payout ratio is 53.16%.

Analyst Ratings Changes

A number of brokerages recently weighed in on NKE. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Royal Bank of Canada reduced their price objective on NIKE from $67.00 to $66.00 and set a “sector perform” rating for the company in a research report on Friday, March 21st. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Evercore ISI reduced their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, Jefferies Financial Group upgraded shares of NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the company from $75.00 to $115.00 in a report on Monday, February 24th. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $87.38.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

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.