Daymark Wealth Partners LLC Has $784,000 Position in NIKE, Inc. (NYSE:NKE)

Daymark Wealth Partners LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 88.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 12,259 shares of the footwear maker's stock after selling 98,596 shares during the period. Daymark Wealth Partners LLC's holdings in NIKE were worth $784,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NKE. Trust Co of Kansas increased its position in shares of NIKE by 4.7% in the 1st quarter. Trust Co of Kansas now owns 70,286 shares of the footwear maker's stock valued at $4,462,000 after buying an additional 3,139 shares in the last quarter. RAM Investment Partners LLC boosted its stake in shares of NIKE by 11.2% during the 1st quarter. RAM Investment Partners LLC now owns 17,813 shares of the footwear maker's stock worth $1,131,000 after buying an additional 1,792 shares during the last quarter. Strategic Investment Advisors MI boosted its stake in shares of NIKE by 17.2% during the 1st quarter. Strategic Investment Advisors MI now owns 3,741 shares of the footwear maker's stock worth $237,000 after buying an additional 550 shares during the last quarter. Econ Financial Services Corp raised its holdings in shares of NIKE by 88.7% in the 1st quarter. Econ Financial Services Corp now owns 35,480 shares of the footwear maker's stock valued at $2,252,000 after purchasing an additional 16,679 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of NIKE by 66.0% in the 1st quarter. International Assets Investment Management LLC now owns 11,532 shares of the footwear maker's stock valued at $732,000 after purchasing an additional 4,585 shares during the period. Institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NKE. Royal Bank Of Canada lowered their price target on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research report on Friday, June 20th. Needham & Company LLC cut their target price on shares of NIKE from $75.00 to $66.00 and set a "buy" rating on the stock in a research report on Wednesday, June 18th. Berenberg Bank assumed coverage on shares of NIKE in a report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price target on the stock. Finally, Morgan Stanley cut their price target on shares of NIKE from $70.00 to $61.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 17th. Sixteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $77.59.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company's stock.

NIKE Trading Up 3.1%

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. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $94.74. The firm has a market capitalization of $92.75 billion, a PE ratio of 20.83, a P/E/G ratio of 2.23 and a beta of 1.21. The company's 50-day moving average is $60.31 and its 200 day moving average is $67.63.

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 for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The firm's revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 EPS. As a group, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.55%. NIKE's dividend payout ratio (DPR) is 53.16%.

About NIKE

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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