CW Advisors LLC Increases Stake in NIKE, Inc. $NKE

Key Points

• CW Advisors LLC increased its stake in NIKE, Inc. by 220.5%, owning 19,298 shares valued at approximately $1.25 million as per the recent SEC filing.
• NIKE's stock opened at $79.14 with a market cap of $116.88 billion and a current P/E ratio of 36.64, indicating strong investor interest.
• The company recently announced a quarterly dividend of $0.40 to be paid on October 1st, resulting in an annualized yield of 2.0%.

CW Advisors LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 220.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,298 shares of the footwear maker's stock after buying an additional 13,276 shares during the quarter. CW Advisors LLC's holdings in NIKE were worth $1,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in NIKE during the 4th quarter valued at approximately $28,000. Stone House Investment Management LLC bought a new position in shares of NIKE during the 1st quarter valued at approximately $25,000. Putney Financial Group LLC bought a new position in shares of NIKE during the 4th quarter valued at approximately $40,000. Minot DeBlois Advisors LLC bought a new position in shares of NIKE during the 4th quarter valued at approximately $42,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of NIKE during the 1st quarter valued at approximately $37,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Up 1.0%

Shares of NKE opened at $79.14 on Tuesday. The company has a market cap of $116.88 billion, a PE ratio of 36.64, a P/E/G ratio of 2.85 and a beta of 1.27. The business has a fifty day moving average of $72.85 and a 200 day moving average of $67.69. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $11.10 billion during 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 revenue was down 11.9% on a year-over-year basis. During the same period last year, the company earned $0.99 earnings per share. On average, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.0%. NIKE's dividend payout ratio (DPR) is presently 74.07%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research report on Friday, June 27th. Piper Sandler increased their target price on NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. UBS Group assumed coverage on NIKE in a research report on Sunday, July 6th. They set a "buy" rating for the company. Argus upgraded NIKE to a "buy" rating in a research report on Sunday, July 6th. Finally, Citigroup increased their target price on NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.22.

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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