Audent Global Asset Management LLC Has $2.77 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Audent Global Asset Management LLC boosted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 161.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,458 shares of the footwear maker's stock after acquiring an additional 22,502 shares during the period. NIKE accounts for 1.8% of Audent Global Asset Management LLC's investment portfolio, making the stock its 20th biggest holding. Audent Global Asset Management LLC's holdings in NIKE were worth $2,773,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NKE. JNBA Financial Advisors raised its stake in NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock valued at $760,000 after purchasing an additional 131 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its position in shares of NIKE by 0.7% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock valued at $1,547,000 after buying an additional 136 shares during the last quarter. Elgethun Capital Management lifted its stake in shares of NIKE by 13.7% in the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after buying an additional 149 shares during the period. Game Plan Financial Advisors LLC grew its position in NIKE by 11.1% during the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker's stock worth $114,000 after buying an additional 150 shares in the last quarter. Finally, AlTi Global Inc. grew its position in NIKE by 0.4% during the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock worth $2,813,000 after buying an additional 150 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Trading Down 1.5%

NIKE stock traded down $0.92 during mid-day trading on Friday, hitting $60.52. The stock had a trading volume of 18,129,878 shares, compared to its average volume of 15,008,233. The stock has a 50-day simple moving average of $59.20 and a two-hundred day simple moving average of $69.78. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $89.52 billion, a PE ratio of 18.68, a P/E/G ratio of 2.52 and a beta of 1.23. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter last year, the firm earned $0.98 EPS. The company's revenue for the quarter was down 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Monday, June 2nd. NIKE's payout ratio is 53.16%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Bank of America cut their price target on NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a report on Friday, April 25th. Robert W. Baird cut their target price on NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Truist Financial decreased their price target on shares of NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Barclays dropped their price objective on shares of NIKE from $70.00 to $60.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $64.00 to $56.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Seventeen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and a consensus price target of $80.26.

Insider Activity

In related news, Director Robert Holmes Swan acquired 8,600 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by company 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.