KLCM Advisors Inc. Takes Position in NIKE, Inc. (NYSE:NKE)

Key Points

• KLCM Advisors Inc. has acquired 166,684 shares of NIKE, Inc., valued at approximately $10.58 million, making it the firm's 25th largest position.
• NIKE reported a quarterly earnings per share (EPS) of $0.14, exceeding analysts' estimates, with a revenue of $11.10 billion, though down 11.9% compared to the same quarter last year.
• The company declared a quarterly dividend of $0.40, yielding 2.1%, which will be paid on October 1st to investors of record.

KLCM Advisors Inc. purchased a new position in NIKE, Inc. (NYSE:NKE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 166,684 shares of the footwear maker's stock, valued at approximately $10,581,000. NIKE comprises approximately 1.2% of KLCM Advisors Inc.'s portfolio, making the stock its 25th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Stone House Investment Management LLC acquired a new position in shares of NIKE in the 1st quarter valued at $25,000. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter valued at $28,000. Roxbury Financial LLC raised its holdings in shares of NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after buying an additional 201 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in shares of NIKE in the 1st quarter valued at $37,000. Finally, Putney Financial Group LLC purchased a new stake in shares of NIKE in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Performance

Shares of NKE stock traded up $0.78 during midday trading on Friday, hitting $77.17. The company had a trading volume of 9,764,949 shares, compared to its average volume of 10,925,215. The company's 50 day simple moving average is $71.05 and its 200 day simple moving average is $67.63. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The stock has a market cap of $113.97 billion, a price-to-earnings ratio of 35.73, a PEG ratio of 2.80 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the business posted $0.99 EPS. The company's revenue was down 11.9% on a year-over-year basis. Research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is 74.07%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NKE shares. Wall Street Zen downgraded NIKE from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Royal Bank Of Canada cut their price objective on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 20th. Argus upgraded NIKE to a "buy" rating in a report on Sunday, July 6th. Robert W. Baird boosted their price objective on NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a report on Friday, June 27th. Finally, Truist Financial cut their price target on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $78.22.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares of the company's stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.80% of the company's stock.

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.