Advyzon Investment Management LLC Invests $243,000 in NIKE, Inc. (NYSE:NKE)

Key Points

• Advyzon Investment Management LLC invested $243,000 in NIKE, acquiring 3,823 shares in the first quarter, as revealed in a recent SEC filing.
• Several institutional investors have significantly increased their holdings in NIKE, including Jennison Associates LLC, which acquired a position worth approximately $509 million.
• Analysts have mixed outlooks on NIKE, with target prices ranging from $55 to $80 and an average rating of "Moderate Buy," reflecting varied confidence in the company's future performance.

Advyzon Investment Management LLC bought a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,823 shares of the footwear maker's stock, valued at approximately $243,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of NKE. AlTi Global Inc. lifted its stake in shares of NIKE by 0.4% during the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after buying an additional 150 shares in the last quarter. Cohen & Steers Inc. increased its stake in NIKE by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock worth $240,000 after acquiring an additional 160 shares during the last quarter. Peregrine Asset Advisers Inc. raised its stake in NIKE by 1.2% during the first quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock valued at $934,000 after purchasing an additional 181 shares in the last quarter. Aaron Wealth Advisors LLC lifted its stake in shares of NIKE by 4.3% in the 1st quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock valued at $296,000 after purchasing an additional 192 shares during the last quarter. Finally, Crew Capital Management Ltd. boosted its stake in NIKE by 1.4% during the first quarter. Crew Capital Management Ltd. now owns 13,752 shares of the footwear maker's stock worth $873,000 after buying an additional 192 shares during the period. 64.25% of the stock is owned by institutional investors.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the sale, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NKE. Argus upgraded NIKE to a "buy" rating in a research report on Sunday, July 6th. Royal Bank Of Canada cut their price target on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 20th. Citigroup boosted their price objective on shares of NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, June 27th. Needham & Company LLC raised their price target on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, Piper Sandler boosted their price objective on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

NIKE Trading Up 0.5%

NYSE NKE traded up $0.35 during trading hours on Friday, reaching $74.70. The company had a trading volume of 966,891 shares, compared to its average volume of 17,126,145. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $110.33 billion, a P/E ratio of 34.52, a price-to-earnings-growth ratio of 2.74 and a beta of 1.27. The stock has a 50-day moving average of $69.43 and a 200 day moving average of $67.63. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. NIKE's revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. NIKE's dividend payout ratio (DPR) is 74.07%.

NIKE Company Profile

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.