Tag: Consumer Discretionary

LVW Advisors LLC cut its position in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 17.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,373 shares of the footwear maker’s stock after selling 717 shares during the quarter. LVW Advisors LLC’s holdings in NIKE were worth $298,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NKE. Spartan Planning & Wealth Management bought a new stake in shares of NIKE during the fourth quarter valued at approximately $182,000. Advisors Asset Management Inc. raised its stake in shares of NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after buying an additional 9,689 shares in the last quarter. FORA Capital LLC bought a new position in shares of NIKE during the 1st quarter worth about $3,412,000. Cetera Advisors LLC boosted its position in shares of NIKE by 85.5% during the 1st quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock valued at $8,298,000 after acquiring an additional 40,704 shares in the last quarter. Finally, Koshinski Asset Management Inc. acquired a new position in NIKE in the first quarter worth about $713,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock opened at $82.15 on Friday. The firm has a fifty day moving average of $81.66 and a two-hundred day moving average of $85.64. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a market capitalization of $123.99 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE – Get Free Report) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share. As a group, equities research analysts predict that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Wall Street Analyst Weigh In

NKE has been the topic of a number of recent research reports. Robert W. Baird lifted their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Barclays cut their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Stifel Nicolaus lowered their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Finally, Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and lifted their price target for the company from $83.00 to $97.00 in a report on Thursday. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

Read Our Latest Report on NKE

NIKE Profile

(Free Report)

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.

Further Reading

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Mount Yale Investment Advisors LLC reduced its position in NIKE, Inc. (NYSE:NKE – Free Report) by 33.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,134 shares of the footwear maker’s stock after selling 1,096 shares during the period. Mount Yale Investment Advisors LLC’s holdings in NIKE were worth $204,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marquette Asset Management LLC raised its stake in NIKE by 201.3% in the 2nd quarter. Marquette Asset Management LLC now owns 241 shares of the footwear maker’s stock valued at $27,000 after acquiring an additional 161 shares during the period. Tucker Asset Management LLC bought a new stake in shares of NIKE during the first quarter valued at about $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of NIKE during the second quarter valued at about $29,000. Financial Freedom LLC bought a new stake in shares of NIKE during the fourth quarter valued at about $29,000. Finally, Worth Asset Management LLC bought a new stake in shares of NIKE during the first quarter valued at about $32,000. 63.42% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NYSE:NKE opened at $108.03 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.84 and a current ratio of 2.87. The firm has a market cap of $164.41 billion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 1.95 and a beta of 1.07. The business has a 50 day moving average price of $109.49 and a 200-day moving average price of $105.76. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $131.31.

NIKE (NYSE:NKE – Get Free Report) last announced its earnings results on Thursday, December 21st. The footwear maker reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.19. The company had revenue of $13.40 billion during the quarter, compared to the consensus estimate of $13.39 billion. NIKE had a return on equity of 34.97% and a net margin of 9.82%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 earnings per share. Equities research analysts predict that NIKE, Inc. will post 3.75 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Friday, December 1st. This is an increase from NIKE’s previous quarterly dividend of $0.34. NIKE’s dividend payout ratio is currently 45.68%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NKE. Truist Financial decreased their price target on NIKE from $108.00 to $107.00 and set a “hold” rating on the stock in a research report on Friday. Piper Sandler decreased their price target on NIKE from $112.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday. Guggenheim reiterated a “buy” rating and set a $135.00 price target on shares of NIKE in a research report on Friday, September 22nd. Bank of America cut their price objective on NIKE from $125.00 to $110.00 in a report on Wednesday, September 20th. Finally, Evercore ISI started coverage on NIKE in a report on Tuesday, November 7th. They set an “outperform” rating and a $124.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $123.94.

Read Our Latest Stock Report on NKE

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan bought 13,072 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was bought at an average price of $96.13 per share, for a total transaction of $1,256,611.36. Following the completion of the acquisition, the director now directly owns 18,005 shares in the company, valued at $1,730,820.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $119.00, for a total value of $1,190,000.00. Following the completion of the transaction, the executive vice president now owns 44,736 shares in the company, valued at $5,323,584. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Holmes Swan acquired 13,072 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was purchased at an average price of $96.13 per share, with a total value of $1,256,611.36. Following the acquisition, the director now owns 18,005 shares of the company’s stock, valued at approximately $1,730,820.65. The disclosure for this purchase can be found here. 0.50% of the stock is owned by corporate insiders.

NIKE Profile

(Free Report)

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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