Foster Victor Wealth Advisors LLC Buys 21,075 Shares of NIKE, Inc. $NKE

Key Points

• Foster Victor Wealth Advisors LLC increased its holdings in NIKE, Inc. by 12.8%, acquiring 21,075 shares, bringing their total ownership to 185,142 shares valued at approximately $13.6 million.
• Several institutional investors also raised their stakes, with notable increases including BROOKFIELD Corp ON by 36.2% and Olstein Capital Management L.P. by 42.2% in the first quarter.
• NIKE recently declared a quarterly dividend of $0.40 per share, reflecting a 2.3% yield, highlighting the company's commitment to returning value to shareholders despite a challenging revenue environment.

Foster Victor Wealth Advisors LLC boosted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 12.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,142 shares of the footwear maker's stock after buying an additional 21,075 shares during the period. Foster Victor Wealth Advisors LLC's holdings in NIKE were worth $13,619,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Spire Wealth Management increased its holdings in shares of NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after acquiring an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after purchasing an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in NIKE during the 1st quarter valued at $25,963,000. BROOKFIELD Corp ON raised its holdings in NIKE by 36.2% during the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker's stock worth $41,808,000 after buying an additional 175,000 shares during the last quarter. Finally, Olstein Capital Management L.P. lifted its stake in shares of NIKE by 42.2% in the first quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker's stock valued at $5,777,000 after buying an additional 27,000 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Argus raised shares of NIKE to a "buy" rating in a research report on Sunday, July 6th. Needham & Company LLC increased their price objective on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Bank of America lifted their target price on NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Jefferies Financial Group reissued a "buy" rating and issued a $115.00 price target on shares of NIKE in a research report on Friday, August 22nd. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of NIKE in a report on Monday, August 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, NIKE has an average rating of "Moderate Buy" and a consensus price target of $79.46.

NIKE Stock Down 0.5%

NKE stock opened at $70.92 on Wednesday. The stock has a 50-day simple moving average of $75.14 and a two-hundred day simple moving average of $67.40. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The firm has a market capitalization of $104.73 billion, a PE ratio of 32.83, a PEG ratio of 2.58 and a beta of 1.24. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. NIKE's revenue was down 11.9% compared to the same quarter last year. During the same period last year, the business earned $0.99 earnings per share. On average, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. NIKE's payout ratio is 74.07%.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the sale, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.80% 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.

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