Ritholtz Wealth Management Acquires 2,649 Shares of NIKE, Inc. (NYSE:NKE)

Ritholtz Wealth Management increased its holdings in NIKE, Inc. (NYSE:NKE) by 20.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 15,878 shares of the footwear maker’s stock after purchasing an additional 2,649 shares during the period. Ritholtz Wealth Management’s holdings in NIKE were worth $1,724,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. BCK Partners Inc. bought a new position in shares of NIKE during the 1st quarter worth about $2,839,000. Loomis Sayles & Co. L P boosted its position in shares of NIKE by 138.2% during the 1st quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock worth $1,511,000 after purchasing an additional 6,518 shares in the last quarter. Merit Financial Group LLC boosted its position in shares of NIKE by 13.3% during the 1st quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock worth $214,000 after purchasing an additional 186 shares in the last quarter. Bridgewater Associates LP bought a new position in shares of NIKE during the 1st quarter worth about $278,000. Finally, Federated Hermes Inc. boosted its position in shares of NIKE by 9.8% during the 1st quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock worth $58,392,000 after purchasing an additional 38,903 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of a number of analyst reports. Wedbush restated an “outperform” rating and issued a $115.00 target price on shares of NIKE in a report on Wednesday. UBS Group lowered their target price on shares of NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. TD Cowen restated a “market perform” rating and issued a $104.00 target price (down previously from $129.00) on shares of NIKE in a report on Friday, December 22nd. Evercore ISI decreased their price objective on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Jefferies Financial Group decreased their price objective 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. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $116.52.

NIKE Stock Performance

NIKE stock opened at $93.98 on Friday. The firm’s fifty day moving average price is $101.52 and its 200-day moving average price is $103.63. 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 stock has a market cap of $143.03 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 1.76 and a beta of 1.10. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68.

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 for 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%. On average, equities research analysts expect that NIKE, Inc. will post 3.72 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, March 1st. NIKE’s 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.