Soltis Investment Advisors LLC Buys 3,963 Shares of NIKE, Inc. (NYSE:NKE)

Soltis Investment Advisors LLC increased its stake in NIKE, Inc. (NYSE:NKE) by 11.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,973 shares of the footwear maker’s stock after acquiring an additional 3,963 shares during the period. Soltis Investment Advisors LLC’s holdings in NIKE were worth $3,025,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in NIKE in the 4th quarter worth approximately $28,000. Caitlin John LLC boosted its stake in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in NIKE in the third quarter worth approximately $30,000. VitalStone Financial LLC increased its position in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the period. Finally, Dunhill Financial LLC grew its position in NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NKE opened at $68.69 on Monday. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $107.43. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market cap of $101.60 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 2.34 and a beta of 1.01. The business’s 50 day moving average is $75.12 and its two-hundred day moving average is $78.04.

NIKE (NYSE:NKE) last released 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 net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The company’s revenue was down 7.7% on a year-over-year basis. Analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.40 per share. 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 annualized dividend and a yield of 2.33%. NIKE’s dividend payout ratio (DPR) is 49.38%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and set a $84.00 target price on shares of NIKE in a research note on Friday. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Robert W. Baird cut their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Finally, TD Cowen cut their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.62.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

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.