Canoe Financial LP Buys 5,100 Shares of NIKE, Inc. $NKE

Key Points

• Canoe Financial LP increased its stake in NIKE, Inc. by 4.8%, acquiring an additional 5,100 shares during Q2, bringing its total holdings to 110,820 shares valued at approximately $7.87 million.
• Chairman Mark G. Parker sold 110,000 shares of NIKE, reducing his position by 11.55%, while the company is currently rated with a consensus of "Moderate Buy" from analysts.
• NIKE recently announced a quarterly dividend of $0.40 per share, contributing to an annualized yield of 2.2%, with a payout ratio of 74.07%.

Canoe Financial LP lifted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 4.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,820 shares of the footwear maker's stock after purchasing an additional 5,100 shares during the quarter. Canoe Financial LP's holdings in NIKE were worth $7,873,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Stone House Investment Management LLC acquired a new stake in NIKE in the first quarter valued at approximately $25,000. Heck Capital Advisors LLC acquired a new position in shares of NIKE during the fourth quarter worth $28,000. Saudi Central Bank acquired a new position in shares of NIKE during the first quarter worth $30,000. Roxbury Financial LLC lifted its holdings in shares of NIKE by 52.1% during 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 period. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of NIKE during the first quarter worth $37,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Insiders Place Their Bets

In related 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 completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NKE. Jefferies Financial Group reissued a "buy" rating and set a $115.00 target price on shares of NIKE in a research note on Friday, August 22nd. Sanford C. Bernstein reiterated an "outperform" rating on shares of NIKE in a report on Monday, August 18th. Barclays boosted their price target on shares of NIKE from $64.00 to $65.00 and gave the stock an "equal weight" rating in a report on Thursday. Bank of America boosted their price target on shares of NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, Piper Sandler boosted their price target on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.73.

NIKE Stock Down 0.3%

NKE opened at $72.09 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 $106.47 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.63 and a beta of 1.24. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $75.22 and a 200 day moving average of $67.61.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share 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 business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period in the previous year, the business earned $0.99 EPS. NIKE's revenue was down 11.9% compared to the same quarter last year. On average, sell-side analysts expect 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE's payout ratio is currently 74.07%.

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.

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