Custos Family Office LLC Takes $625,000 Position in NIKE, Inc. $NKE

Key Points

• Custos Family Office LLC has acquired 8,800 shares of NIKE, Inc., valued at approximately $625,000, signaling renewed investor interest in the footwear maker.
• Several institutional investors have increased their stakes in NIKE, with hedge funds now owning 64.25% of the company's stock, indicating strong institutional support.
• Analysts are optimistic about NIKE's performance, with a consensus price target of $81.57 and numerous "buy" ratings, reflecting confidence in a potential turnaround for the company.

Custos Family Office LLC acquired a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,800 shares of the footwear maker's stock, valued at approximately $625,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Spire Wealth Management lifted its holdings in shares of NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after buying an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of NIKE by 0.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after buying an additional 5,601 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of NIKE in the 1st quarter valued at about $25,963,000. BROOKFIELD Corp ON increased its stake in shares of NIKE by 36.2% in the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker's stock valued at $41,808,000 after purchasing an additional 175,000 shares in the last quarter. Finally, Olstein Capital Management L.P. raised its holdings in NIKE by 42.2% in the 1st quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker's stock worth $5,777,000 after purchasing an additional 27,000 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on 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 approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $78.00 price target on shares of NIKE in a research report on Wednesday. Citigroup upgraded NIKE from a "neutral" rating to a "positive" rating in a research report on Friday, September 19th. Zacks Research upgraded NIKE from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Telsey Advisory Group reiterated a "market perform" rating and set a $75.00 price target on shares of NIKE in a research report on Wednesday. Finally, KeyCorp set a $90.00 price target on NIKE and gave the stock an "overweight" rating in a research report on Thursday. Four research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and a consensus price target of $81.57.

NIKE Price Performance

NYSE:NKE opened at $74.59 on Friday. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $84.76. The stock has a 50 day moving average of $74.71 and a two-hundred day moving average of $67.32. The company has a current ratio of 2.19, a quick ratio of 1.50 and a debt-to-equity ratio of 0.59. The firm has a market cap of $110.16 billion, a P/E ratio of 38.25, a price-to-earnings-growth ratio of 2.79 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same period in the previous year, the business earned $0.70 EPS. NIKE's quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date was 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 is 82.05%.

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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