Independent Solutions Wealth Management LLC Acquires Shares of 13,238 NIKE, Inc. (NYSE:NKE)

Independent Solutions Wealth Management LLC purchased a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,238 shares of the footwear maker's stock, valued at approximately $840,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA lifted its holdings in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after acquiring an additional 210 shares during the last quarter. Hopwood Financial Services Inc. purchased a new position in NIKE in the fourth quarter worth approximately $30,000. EnRich Financial Partners LLC increased its stake in NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after acquiring an additional 273 shares during the last quarter. Finally, BankPlus Trust Department purchased a new stake in NIKE in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NKE shares. Wells Fargo & Company increased their price target on NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Dbs Bank raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Barclays lifted their price target on shares of NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday. The Goldman Sachs Group upped their price objective on shares of NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a report on Friday. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $70.00 target price on shares of NIKE in a report on Friday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $79.33.

NIKE Stock Up 15.3%

NIKE stock traded up $9.55 during midday trading on Friday, reaching $72.09. The company's stock had a trading volume of 117,428,527 shares, compared to its average volume of 15,803,806. The company has a market cap of $106.63 billion, a P/E ratio of 33.38, a P/E/G ratio of 2.29 and a beta of 1.21. The company has a quick ratio of 1.52, a current ratio of 2.19 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $60.63 and a 200-day simple moving average of $67.60. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 23.00% and a net margin of 6.95%. The business's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.99 EPS. On average, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. NIKE's payout ratio is currently 53.16%.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.