NIKE, Inc. (NYSE:NKE) Position Lessened by SOA Wealth Advisors LLC.

SOA Wealth Advisors LLC. cut its stake in NIKE, Inc. (NYSE:NKE) by 8.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,290 shares of the footwear maker’s stock after selling 493 shares during the period. SOA Wealth Advisors LLC.’s holdings in NIKE were worth $400,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Platform Technology Partners increased its holdings in shares of NIKE by 72.3% in the 4th quarter. Platform Technology Partners now owns 22,968 shares of the footwear maker’s stock worth $1,738,000 after acquiring an additional 9,634 shares during the period. Realta Investment Advisors increased its stake in shares of NIKE by 117.3% in the fourth quarter. Realta Investment Advisors now owns 5,477 shares of the footwear maker’s stock valued at $402,000 after purchasing an additional 2,956 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $196,000. Live Oak Private Wealth LLC grew its holdings in NIKE by 2.8% in the 4th quarter. Live Oak Private Wealth LLC now owns 6,196 shares of the footwear maker’s stock worth $469,000 after buying an additional 166 shares in the last quarter. Finally, William Allan Corp increased its position in NIKE by 22.2% in the 4th quarter. William Allan Corp now owns 52,163 shares of the footwear maker’s stock valued at $3,947,000 after acquiring an additional 9,482 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Down 4.3 %

Shares of NKE stock opened at $68.69 on Friday. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $107.43. The stock has a market cap of $101.60 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 2.50 and a beta of 1.01. The firm’s 50-day moving average is $75.32 and its 200-day moving average is $78.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 EPS. Sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.33%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 49.38%.

Wall Street Analyst Weigh In

NKE has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price target on shares of NIKE in a research report on Friday. Bank of America reduced their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $102.00 to $72.00 in a report on Friday. Finally, Barclays dropped their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.62.

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.