Bleakley Financial Group LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 14.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,185 shares of the footwear maker’s stock after acquiring an additional 3,271 shares during the period. Bleakley Financial Group LLC’s holdings in NIKE were worth $3,089,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in NKE. America First Investment Advisors LLC bought a new stake in shares of NIKE during the first quarter worth $27,000. Tucker Asset Management LLC acquired a new stake in shares of NIKE in the first quarter valued at approximately $29,000. Financial Freedom LLC bought a new position in NIKE in the 4th quarter valued at $29,000. Ruedi Wealth Management Inc. acquired a new stake in NIKE in the fourth quarter worth about $30,000. Finally, Worth Asset Management LLC acquired a new position in NIKE in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 63.42% of the company’s stock.
Analyst Ratings Changes
NKE has been the subject of several recent research reports. Wedbush upped their target price on shares of NIKE from $129.00 to $131.00 and gave the company an “outperform” rating in a research report on Friday, June 30th. Williams Trading dropped their price objective on NIKE from $95.00 to $91.00 and set a “sell” rating for the company in a report on Thursday. Royal Bank of Canada reduced their target price on NIKE from $138.00 to $134.00 and set an “outperform” rating on the stock in a report on Friday, June 30th. VNET Group reaffirmed a “maintains” rating on shares of NIKE in a research note on Friday, June 30th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $152.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $130.28.
NIKE Trading Down 2.2 %
NKE stock opened at $97.93 on Friday. The stock has a market cap of $149.83 billion, a price-to-earnings ratio of 30.32, a price-to-earnings-growth ratio of 1.77 and a beta of 1.12. The company has a fifty day moving average price of $106.00 and a two-hundred day moving average price of $113.74. NIKE, Inc. has a one year low of $82.22 and a one year high of $131.31. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.72 and a quick ratio of 1.81.
NIKE (NYSE:NKE – Get Free Report) last announced its earnings results on Thursday, June 29th. The footwear maker reported $0.66 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.02). NIKE had a return on equity of 34.01% and a net margin of 9.90%. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.58 billion. During the same period in the previous year, the firm posted $0.90 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts anticipate that NIKE, Inc. will post 3.71 EPS for the current year.
NIKE Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.36 annualized dividend and a dividend yield of 1.39%. NIKE’s dividend payout ratio (DPR) is presently 42.11%.
Insider Buying and Selling
In other NIKE news, EVP Monique S. Matheson sold 40,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $108.59, for a total transaction of $4,343,600.00. Following the transaction, the executive vice president now owns 44,736 shares in the company, valued at approximately $4,857,882.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Monique S. Matheson sold 40,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $108.59, for a total value of $4,343,600.00. Following the transaction, the executive vice president now owns 44,736 shares in the company, valued at $4,857,882.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $108.58, for a total transaction of $11,943,800.00. Following the sale, the chairman now directly owns 1,334,781 shares of the company’s stock, valued at approximately $144,930,520.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,251 shares of company stock valued at $17,063,257. 0.50% of the stock is owned by company insiders.
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.
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