CX Institutional Has $503,000 Stake in NIKE, Inc. $NKE

Key Points

• CX Institutional reduced its stake in NIKE by 89.5% in the second quarter, selling 60,349 shares and now holds 7,083 shares worth approximately $503,000.
• NIKE reported a quarterly EPS of $0.14, surpassing analysts' expectations of $0.12, with a total revenue of $11.10 billion, which was below the previous year's figures.
• The company will pay a quarterly dividend of $0.40 per share on October 1st, with an annual dividend yield of 2.3%.

CX Institutional decreased its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 89.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,083 shares of the footwear maker's stock after selling 60,349 shares during the quarter. CX Institutional's holdings in NIKE were worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of NKE. Stone House Investment Management LLC acquired a new stake in shares of NIKE during the 1st quarter worth approximately $25,000. Saudi Central Bank acquired a new stake in shares of NIKE during the 1st quarter worth approximately $30,000. Matrix Trust Co grew its position in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after buying an additional 153 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of NIKE during the 2nd quarter worth approximately $35,000. Finally, Roxbury Financial LLC grew its position in shares of NIKE by 52.1% during the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after buying an additional 201 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Price Performance

NKE opened at $69.31 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The company has a market capitalization of $102.36 billion, a price-to-earnings ratio of 32.09, a P/E/G ratio of 2.51 and a beta of 1.24. The firm's fifty day moving average price is $74.99 and its two-hundred day moving average price is $67.34. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.26.

NIKE (NYSE:NKE - Get Free Report) last posted 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. The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.99 EPS. As a group, analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's payout ratio is currently 74.07%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research report on Friday, June 27th. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Barclays lifted their price target on shares of NIKE from $64.00 to $65.00 and gave the company an "equal weight" rating in a research report on Thursday, September 18th. Zacks Research raised shares of NIKE from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Finally, Evercore ISI reduced their price target on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, NIKE currently has an average rating of "Moderate Buy" and an average price target of $79.62.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on 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 transaction, the chairman directly owned 842,361 shares of the company's stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is owned by corporate insiders.

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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