WT Wealth Management Takes $1.14 Million Position in NIKE, Inc. (NYSE:NKE)

WT Wealth Management bought a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,490 shares of the footwear maker's stock, valued at approximately $1,141,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP raised its stake in NIKE by 13.3% in the third quarter. Allworth Financial LP now owns 6,128 shares of the footwear maker's stock worth $586,000 after buying an additional 719 shares in the last quarter. McAdam LLC boosted its stake in shares of NIKE by 8.2% in the third quarter. McAdam LLC now owns 2,295 shares of the footwear maker's stock worth $219,000 after buying an additional 174 shares during the last quarter. Money Concepts Capital Corp boosted its position in NIKE by 8.5% in the 3rd quarter. Money Concepts Capital Corp now owns 10,902 shares of the footwear maker's stock worth $1,042,000 after purchasing an additional 858 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in NIKE by 31.0% during the third quarter. Legacy Wealth Asset Management LLC now owns 3,903 shares of the footwear maker's stock valued at $373,000 after buying an additional 923 shares during the period. Finally, New Mexico Educational Retirement Board grew its position in shares of NIKE by 5.9% during the 3rd quarter. New Mexico Educational Retirement Board now owns 64,148 shares of the footwear maker's stock valued at $6,134,000 after acquiring an additional 3,600 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NKE. Wedbush reiterated an "outperform" rating and set a $115.00 target price on shares of NIKE in a research report on Tuesday, April 30th. Piper Sandler decreased their price objective on shares of NIKE from $107.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, March 22nd. Jefferies Financial Group cut their target price on shares of NIKE from $110.00 to $100.00 and set a "hold" rating for the company in a research note on Friday, March 22nd. Wells Fargo & Company decreased their price target on shares of NIKE from $125.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday, March 22nd. Finally, Sanford C. Bernstein cut their price objective on NIKE from $134.00 to $120.00 and set an "outperform" rating for the company in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.26.

NIKE Trading Up 0.4 %

NKE traded up $0.41 on Friday, hitting $92.18. The company had a trading volume of 12,019,568 shares, compared to its average volume of 7,993,296. The company's fifty day moving average price is $94.00 and its 200 day moving average price is $102.36. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $123.39. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The firm has a market cap of $139.13 billion, a P/E ratio of 27.11, a PEG ratio of 1.77 and a beta of 1.07.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.29. The company had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, equities analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.61%. NIKE's dividend payout ratio is currently 43.53%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company's stock, valued at approximately $102,648,662.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Johanna Nielsen sold 282 shares of the company's stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 213,660 shares of company stock worth $19,946,333. Corporate insiders own 0.50% 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.