Armistice Capital LLC Buys New Position in NIKE, Inc. $NKE

Key Points

• Armistice Capital LLC has acquired a new stake in NIKE, purchasing 173,451 shares valued at approximately $11 million in the first quarter, indicating strong institutional interest in the stock.
• NIKE's Chairman, Mark G. Parker, sold 110,000 shares recently, representing an 11.55% decrease in his ownership, while the company maintains a current dividend yield of 2.1%.
• Analysts have mixed reviews on NIKE, with price targets ranging from $61 to $97, yet the stock currently holds an average rating of "Moderate Buy" with a consensus price target of $78.22.

Armistice Capital LLC purchased a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 173,451 shares of the footwear maker's stock, valued at approximately $11,011,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of NKE. Stone House Investment Management LLC acquired a new stake in NIKE in the 1st quarter valued at about $25,000. Heck Capital Advisors LLC acquired a new stake in NIKE in the 4th quarter valued at about $28,000. Saudi Central Bank acquired a new stake in NIKE in the 1st quarter valued at about $30,000. Roxbury Financial LLC lifted its holdings in 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 acquiring an additional 201 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new stake in NIKE during the first quarter valued at about $37,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity 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 value of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares of the company's stock, valued at $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 SEC, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NKE shares. Truist Financial reduced their price objective on shares of NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Tuesday, June 24th. Evercore ISI reduced their price objective on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. UBS Group assumed coverage on shares of NIKE in a research report on Sunday, July 6th. They issued a "buy" rating for the company. The Goldman Sachs Group increased their price target on shares of NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Finally, Morgan Stanley increased their price target on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

NIKE Price Performance

Shares of NKE opened at $77.34 on Friday. The firm has a market cap of $114.22 billion, a PE ratio of 35.81, a PEG ratio of 2.81 and a beta of 1.27. The firm's 50 day moving average price is $74.32 and its 200 day moving average price is $67.90. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62.

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

NIKE Announces Dividend

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

NIKE Company 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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