626 Financial LLC Buys New Shares in NIKE, Inc. $NKE

Key Points

• 626 Financial LLC separately bought 4,666 shares valued at approximately $331,000 in NIKE, Inc. during the 2nd quarter.
• NIKE's Chairman, Mark G. Parker, sold 86,078 shares for over $6.5 million, reducing his stake by 10.36% to approximately 744,988 shares.
• NIKE reported earnings per share of $0.49 for the last quarter, surpassing the expected $0.27, alongside a revenue of $11.72 billion.

626 Financial LLC bought a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,666 shares of the footwear maker's stock, valued at approximately $331,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Caldwell Sutter Capital Inc. lifted its holdings in shares of NIKE by 6.3% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock worth $170,000 after acquiring an additional 142 shares during the period. Westmount Partners LLC lifted its holdings in shares of NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock worth $367,000 after acquiring an additional 146 shares during the period. HB Wealth Management LLC lifted its holdings in NIKE by 0.3% during the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker's stock valued at $3,695,000 after purchasing an additional 147 shares during the last quarter. Matrix Trust Co lifted its holdings in NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock valued at $31,000 after purchasing an additional 153 shares during the last quarter. Finally, Summit Financial Strategies Inc. lifted its holdings in NIKE by 3.8% during the 2nd quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker's stock valued at $303,000 after purchasing an additional 155 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.80% of the company's stock.

NIKE Trading Down 0.9%

NKE opened at $71.25 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $105.23 billion, a PE ratio of 36.54, a PEG ratio of 2.64 and a beta of 1.29. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $84.76. The firm has a 50-day moving average price of $74.46 and a two-hundred day moving average price of $67.26.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to analysts' expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 EPS. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is presently 82.05%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NKE shares. Barclays set a $70.00 price target on shares of NIKE and gave the company a "positive" rating in a report on Wednesday, October 1st. Truist Financial reissued a "buy" rating and set a $85.00 price target on shares of NIKE in a report on Wednesday, October 1st. Citigroup raised shares of NIKE from a "neutral" rating to a "positive" rating in a report on Friday, September 19th. Evercore ISI cut their price target on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. Finally, Argus raised shares of NIKE to a "buy" rating in a report on Sunday, July 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, NIKE has a consensus rating of "Moderate Buy" and a consensus price target of $81.57.

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.

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