Foster Victor Wealth Advisors LLC Grows Stock Position in NIKE, Inc. (NYSE:NKE)

Foster Victor Wealth Advisors LLC increased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 15.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,067 shares of the footwear maker's stock after buying an additional 22,473 shares during the quarter. Foster Victor Wealth Advisors LLC's holdings in NIKE were worth $10,415,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Heck Capital Advisors LLC purchased a new position in shares of NIKE in the fourth quarter worth $28,000. Roxbury Financial LLC purchased a new position in shares of NIKE in the fourth quarter worth $30,000. LFA Lugano Financial Advisors SA increased its stake in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after buying an additional 210 shares during the period. Hopwood Financial Services Inc. bought a new stake in NIKE in the fourth quarter valued at $30,000. Finally, EnRich Financial Partners LLC boosted its holdings in NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after acquiring an additional 273 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the firm's stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by insiders.

NIKE Stock Down 3.8%

NIKE stock traded down $2.36 during mid-day trading on Friday, reaching $60.44. The stock had a trading volume of 16,491,618 shares, compared to its average volume of 15,200,492. The company has a market capitalization of $89.40 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 2.52 and a beta of 1.21. The company has a 50-day moving average price of $59.38 and a two-hundred day moving average price of $68.67. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. NIKE's revenue was down 9.1% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is 53.16%.

Analyst Ratings Changes

Several analysts recently weighed in on NKE shares. Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Wells Fargo & Company lifted their price target on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Truist Financial cut their price target on shares of NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Friday, March 21st. JPMorgan Chase & Co. cut their price target on shares of NIKE from $64.00 to $56.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Finally, Stifel Nicolaus cut their price target on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Seventeen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $80.26.

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.