Horst & Graben Wealth Management LLC Increases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Horst & Graben Wealth Management LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,351 shares of the footwear maker’s stock after buying an additional 1,138 shares during the quarter. NIKE makes up about 0.7% of Horst & Graben Wealth Management LLC’s holdings, making the stock its 25th largest position. Horst & Graben Wealth Management LLC’s holdings in NIKE were worth $3,921,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. grew its holdings in NIKE by 86.0% during the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after buying an additional 9,689 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of NIKE during the first quarter valued at $3,412,000. Cetera Advisors LLC increased its position in NIKE by 85.5% during the 1st quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock worth $8,298,000 after purchasing an additional 40,704 shares in the last quarter. Koshinski Asset Management Inc. acquired a new position in NIKE in the 1st quarter valued at about $713,000. Finally, New Mexico Educational Retirement Board lifted its holdings in NIKE by 15.7% in the 1st quarter. New Mexico Educational Retirement Board now owns 74,248 shares of the footwear maker’s stock valued at $6,978,000 after purchasing an additional 10,100 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of recent research reports. Sanford C. Bernstein lowered their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and lifted their target price for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Stifel Nicolaus reduced their price target on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. HSBC lowered their price objective on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Finally, Bank of America dropped their target price on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.56.

NIKE Stock Performance

NIKE stock opened at $81.49 on Tuesday. The firm has a market capitalization of $123.00 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The stock’s 50 day moving average price is $82.77 and its 200 day moving average price is $85.19. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 earnings per share. As a group, sell-side analysts expect that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.82%. NIKE’s payout ratio is currently 39.68%.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.50% 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.