Sciencast Management LP Acquires New Position in NIKE, Inc. (NYSE:NKE)

Sciencast Management LP bought a new position in NIKE, Inc. (NYSE:NKE) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,499 shares of the footwear maker’s stock, valued at approximately $1,103,000. NIKE accounts for approximately 0.9% of Sciencast Management LP’s portfolio, making the stock its 24th largest position.

Other institutional investors also recently bought and sold shares of the company. America First Investment Advisors LLC purchased a new position in NIKE during the first quarter worth about $27,000. Tucker Asset Management LLC purchased a new position in shares of NIKE during the 1st quarter worth about $29,000. Financial Freedom LLC acquired a new stake in shares of NIKE in the fourth quarter worth approximately $29,000. Ruedi Wealth Management Inc. purchased a new stake in NIKE in the fourth quarter valued at approximately $30,000. Finally, Venturi Wealth Management LLC acquired a new position in NIKE during the first quarter worth approximately $35,000. 63.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NIKE

In other NIKE news, VP Johanna Nielsen sold 1,706 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total value of $182,542.00. Following the completion of the transaction, the vice president now owns 954 shares in the company, valued at approximately $102,078. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Matthew Friend sold 5,545 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total value of $593,315.00. Following the completion of the sale, the chief financial officer now owns 42,119 shares of the company’s stock, valued at $4,506,733. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Johanna Nielsen sold 1,706 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total transaction of $182,542.00. Following the transaction, the vice president now directly owns 954 shares in the company, valued at approximately $102,078. The disclosure for this sale can be found here. Insiders have sold a total of 157,251 shares of company stock worth $17,063,257 in the last ninety days. 0.50% of the stock is owned by insiders.

NIKE Price Performance

Shares of NYSE:NKE opened at $95.32 on Tuesday. The company has a quick ratio of 1.81, a current ratio of 2.72 and a debt-to-equity ratio of 0.64. The firm has a 50-day simple moving average of $104.70 and a 200 day simple moving average of $112.67. NIKE, Inc. has a fifty-two week low of $82.22 and a fifty-two week high of $131.31. The company has a market cap of $145.84 billion, a PE ratio of 29.57, a P/E/G ratio of 1.70 and a beta of 1.12.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.02). The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.58 billion. NIKE had a return on equity of 34.01% and a net margin of 9.90%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. On average, sell-side analysts anticipate that NIKE, Inc. will post 3.71 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, September 1st. This represents a $1.36 annualized dividend and a dividend yield of 1.43%. NIKE’s dividend payout ratio is currently 42.11%.

Analysts Set New Price Targets

Several research analysts recently weighed in on NKE shares. Wells Fargo & Company cut their target price on NIKE from $130.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday. Wedbush boosted their target price on NIKE from $129.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, June 30th. VNET Group restated a “maintains” rating on shares of NIKE in a report on Friday, June 30th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $133.00 to $126.00 in a research report on Friday, June 23rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of NIKE from $152.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.07.

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.