Accurate Wealth Management LLC Makes New Investment in NIKE, Inc. $NKE

Key Points

• Accurate Wealth Management LLC has acquired a new stake in NIKE, purchasing 5,560 shares valued at approximately $415,000 during the 2nd quarter.
• Insider trading activity includes NIKE Chairman Mark G. Parker selling 110,000 shares for nearly $8 million, reducing his ownership by 11.55% to about 842,361 shares.
• NIKE's stock has experienced fluctuations, with a current price of $69.32, a 12-month range of $52.28 to $90.62, and the company recently reported quarterly earnings of $0.14 per share, exceeding estimates.

Accurate Wealth Management LLC purchased a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,560 shares of the footwear maker's stock, valued at approximately $415,000.

A number of other large investors also recently modified their holdings of NKE. Stone House Investment Management LLC bought a new stake in NIKE during the first quarter valued at $25,000. Saudi Central Bank bought a new stake in shares of NIKE during the 1st quarter valued at about $30,000. Matrix Trust Co grew its holdings in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after purchasing an additional 153 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of NIKE during the second quarter worth about $35,000. Finally, Roxbury Financial LLC increased its position in shares of NIKE by 52.1% in the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after purchasing an additional 201 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. DZ Bank lowered shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price for the company. in a research report on Thursday, July 10th. Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Evercore ISI lowered their price target on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. TD Cowen upgraded NIKE from a "hold" rating to a "buy" rating and upped their price objective for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. Finally, JPMorgan Chase & Co. upgraded NIKE from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $64.00 to $93.00 in a research report on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and a consensus price target of $79.46.

NIKE Stock Down 2.7%

Shares of NIKE stock opened at $69.32 on Friday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The company has a market cap of $102.38 billion, a P/E ratio of 32.09, a PEG ratio of 2.59 and a beta of 1.24. The company's fifty day simple moving average is $75.05 and its two-hundred day simple moving average is $67.38. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE's payout ratio is presently 74.07%.

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.

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