Canvas Wealth Advisors LLC Raises Stock Holdings in NIKE, Inc. (NYSE:NKE)

Canvas Wealth Advisors LLC grew its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 121.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,168 shares of the footwear maker's stock after buying an additional 26,986 shares during the period. Canvas Wealth Advisors LLC's holdings in NIKE were worth $3,121,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NKE. Heck Capital Advisors LLC purchased a new stake in NIKE in the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA lifted its position in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in shares of NIKE in the fourth quarter worth about $30,000. EnRich Financial Partners LLC grew its position in shares of NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after purchasing an additional 273 shares in the last quarter. Finally, Roxbury Financial LLC grew its position 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 in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Robert W. Baird lowered their price target on NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a report on Friday, June 20th. Morgan Stanley dropped their target price on shares of NIKE from $70.00 to $61.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 17th. Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. Finally, The Goldman Sachs Group decreased their price target on shares of NIKE from $88.00 to $72.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Sixteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and an average price target of $77.59.

NIKE Stock Up 3.1%

NYSE:NKE opened at $62.71 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 1.52. The firm has a market cap of $92.75 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.23 and a beta of 1.21. The company has a 50-day moving average of $60.31 and a 200 day moving average of $67.63. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $94.74.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. NIKE's revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.55%. NIKE's dividend payout ratio is presently 53.16%.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This represents a 36.78% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.10% of the company's stock.

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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