Octavia Wealth Advisors LLC Boosts Stock Position in NIKE, Inc. (NYSE:NKE)

Octavia Wealth Advisors LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 8.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 18,825 shares of the footwear maker’s stock after buying an additional 1,542 shares during the period. Octavia Wealth Advisors LLC’s holdings in NIKE were worth $1,432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE during the third quarter worth about $30,000. VitalStone Financial LLC boosted its stake in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the last quarter. Dunhill Financial LLC boosted its position in shares of NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after acquiring an additional 169 shares during the last quarter. Ecofi Investissements SA purchased a new stake in shares of NIKE in the 2nd quarter valued at approximately $49,000. Finally, Riverview Trust Co acquired a new stake in NIKE during the third quarter worth $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. TD Cowen cut their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Guggenheim dropped their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Evercore ISI reduced their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

Insider Activity

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NIKE stock opened at $73.22 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a 50-day simple moving average of $75.66 and a 200 day simple moving average of $77.92. NIKE, Inc. has a 12-month low of $70.32 and a 12-month high of $107.43. The stock has a market capitalization of $108.30 billion, a price-to-earnings ratio of 22.60, a P/E/G ratio of 2.25 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the company posted $1.03 EPS. NIKE’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, research analysts anticipate that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

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.