Commonwealth Equity Services LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 16.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 505,216 shares of the footwear maker's stock after purchasing an additional 71,877 shares during the period. Commonwealth Equity Services LLC's holdings in NIKE were worth $32,071,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC acquired a new position in NIKE in the 4th quarter valued at approximately $28,000. EnRich Financial Partners LLC increased 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 valued at $31,000 after purchasing an additional 273 shares during the period. Putney Financial Group LLC acquired a new position in shares of NIKE in the fourth quarter valued at $40,000. Minot DeBlois Advisors LLC bought a new position in NIKE in the fourth quarter worth $42,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in NIKE during the first quarter worth $37,000. Institutional investors own 64.25% of the company's stock.
NIKE Stock Up 0.5%
Shares of NKE traded up $0.35 during mid-day trading on Friday, hitting $74.70. 966,891 shares of the company's stock were exchanged, compared to its average volume of 17,126,145. The company has a market cap of $110.33 billion, a PE ratio of 34.52, a P/E/G ratio of 2.74 and a beta of 1.27. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The company has a 50-day simple moving average of $69.43 and a 200 day simple moving average of $67.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.
NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. During the same quarter in the prior year, the business posted $0.99 EPS. The business's revenue was down 11.9% compared to the same quarter last year. On average, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.
NIKE Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.1%. NIKE's dividend payout ratio is 74.07%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on NKE. Truist Financial dropped 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 lowered their target price on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 24th. Needham & Company LLC raised their price target on shares of NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Wells Fargo & Company lifted their price objective on NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Finally, Barclays raised their target price on NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.22.
Check Out Our Latest Stock Analysis on NKE
Insider Transactions at NIKE
In other news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction dated 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 sale, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.80% of the stock is owned by corporate insiders.
NIKE Company Profile
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Free Report)
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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