Benchmark Investment Advisors LLC Acquires New Stake in NIKE, Inc. $NKE

Key Points

• Benchmark Investment Advisors LLC acquired a new stake in NIKE, purchasing 5,700 shares valued at approximately $362,000 in the first quarter of 2023.
• NIKE's current average rating is "Moderate Buy," with analysts adjusting target prices, including Evercore ISI reducing it from $97.00 to $75.00, while Goldman Sachs increased theirs from $72.00 to $81.00.
• NIKE announced a quarterly dividend of $0.40 per share, which will be paid on October 1st, with a current dividend yield of 2.1% and a payout ratio of 74.07%.

Benchmark Investment Advisors LLC acquired a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,700 shares of the footwear maker's stock, valued at approximately $362,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new position in NIKE during the 1st quarter valued at approximately $25,000. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the 4th quarter worth $28,000. Roxbury Financial LLC increased 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 worth $37,000 after purchasing an additional 201 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of NIKE in the 1st quarter worth $37,000. Finally, Putney Financial Group LLC bought a new stake in shares of NIKE in the 4th quarter worth $40,000. Institutional investors own 64.25% of the company's stock.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated 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 transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Evercore ISI reduced their target price on NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. Wall Street Zen lowered NIKE from a "hold" rating to a "sell" rating in a report on Friday, June 27th. The Goldman Sachs Group lifted their target price on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Argus raised NIKE to a "buy" rating in a report on Sunday, July 6th. Finally, Citigroup lifted their target price on NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, NIKE currently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

NIKE Stock Performance

NKE stock opened at $77.34 on Friday. The company has a market cap of $114.22 billion, a P/E ratio of 35.81, a price-to-earnings-growth ratio of 2.83 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. The stock's fifty day moving average price is $74.32 and its 200-day moving average price is $67.93. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last released 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. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.NIKE's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. On average, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed 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. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, September 2nd. 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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