GC Wealth Management RIA LLC Has $902,000 Stock Holdings in NIKE, Inc. (NYSE:NKE)

GC Wealth Management RIA LLC decreased its stake in NIKE, Inc. (NYSE:NKE) by 57.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,923 shares of the footwear maker’s stock after selling 16,324 shares during the quarter. GC Wealth Management RIA LLC’s holdings in NIKE were worth $902,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Verdence Capital Advisors LLC increased its holdings in shares of NIKE by 21.0% in the third quarter. Verdence Capital Advisors LLC now owns 3,801 shares of the footwear maker’s stock worth $336,000 after acquiring an additional 660 shares in the last quarter. XML Financial LLC bought a new stake in shares of NIKE in the third quarter worth about $237,000. Legacy Capital Wealth Partners LLC increased its holdings in shares of NIKE by 18.1% in the third quarter. Legacy Capital Wealth Partners LLC now owns 5,162 shares of the footwear maker’s stock worth $456,000 after acquiring an additional 790 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of NIKE by 2.6% in the third quarter. Axxcess Wealth Management LLC now owns 6,355 shares of the footwear maker’s stock worth $562,000 after acquiring an additional 163 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of NIKE in the third quarter worth about $383,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NKE shares. Stifel Nicolaus lowered their price target on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price objective on shares of NIKE in a report on Wednesday, February 19th. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $115.00 in a report on Monday, February 24th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price objective on shares of NIKE in a report on Friday, February 7th. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

NIKE Stock Performance

NKE opened at $76.35 on Tuesday. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $102.49. The stock has a market cap of $112.92 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 2.52 and a beta of 1.02. The business has a 50 day moving average of $74.80 and a 200-day moving average of $78.09. 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 (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the firm posted $1.03 earnings per share. The business’s revenue was down 7.7% on a year-over-year basis. On average, equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.10%. NIKE’s payout ratio is currently 49.38%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

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.