Forte Capital LLC ADV Boosts Stake in NIKE, Inc. (NYSE:NKE)

Forte Capital LLC ADV grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 85,579 shares of the footwear maker’s stock after buying an additional 2,052 shares during the period. NIKE accounts for 1.3% of Forte Capital LLC ADV’s investment portfolio, making the stock its 23rd biggest position. Forte Capital LLC ADV’s holdings in NIKE were worth $9,291,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in NKE. Newport Trust Company LLC acquired a new stake in shares of NIKE during the third quarter worth $679,775,000. Flossbach Von Storch AG boosted its stake in NIKE by 433.5% in the 3rd quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock worth $394,775,000 after buying an additional 3,354,677 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of NIKE by 117.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker’s stock valued at $285,564,000 after acquiring an additional 1,610,273 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of NIKE by 37.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock valued at $553,786,000 after acquiring an additional 1,583,541 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of NIKE during the 3rd quarter worth about $97,724,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on NKE. HSBC cut their price target on shares of NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Monday, January 22nd. Telsey Advisory Group cut their target price on NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. Morgan Stanley reduced their target price on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. Piper Sandler dropped their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Finally, Robert W. Baird reduced their price objective on NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.26.

NIKE Stock Down 0.3 %

Shares of NYSE:NKE traded down $0.26 during trading on Friday, hitting $92.15. The company’s stock had a trading volume of 5,736,711 shares, compared to its average volume of 8,740,078. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $127.69. The stock’s 50-day moving average price is $95.73 and its two-hundred day moving average price is $103.05. The company has a market capitalization of $139.09 billion, a PE ratio of 27.10, a PEG ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. As a group, sell-side analysts expect that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

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

NIKE 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.