Angeles Wealth Management LLC Has $990,000 Stock Holdings in NIKE, Inc. (NYSE:NKE)

Angeles Wealth Management LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 2.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,083 shares of the footwear maker’s stock after selling 306 shares during the period. Angeles Wealth Management LLC’s holdings in NIKE were worth $990,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Pacer Advisors Inc. grew its position in shares of NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after purchasing an additional 6,709,985 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of NIKE by 1,209,638.7% in the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after buying an additional 6,507,856 shares in the last quarter. Assenagon Asset Management S.A. grew its position in NIKE by 358.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after buying an additional 2,357,745 shares in the last quarter. State Street Corp increased its stake in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after acquiring an additional 1,862,021 shares during the period. Finally, Holocene Advisors LP bought a new position in NIKE during the 3rd quarter worth $148,635,000. Institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NYSE NKE opened at $68.69 on Monday. The company has a market capitalization of $101.60 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 2.34 and a beta of 1.01. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $107.43. The stock has a fifty day simple moving average of $75.12 and a 200 day simple moving average of $78.04.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 36.99% and a net margin of 9.98%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

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

Analysts Set New Price Targets

Several research firms have recently issued reports on NKE. Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Truist Financial decreased their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price target on shares of NIKE in a report on Friday. Royal Bank of Canada decreased their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Finally, Morgan Stanley lowered their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.62.

NIKE Company 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.