DoubleLine ETF Adviser LP Acquires New Stake in NIKE, Inc. $NKE

Key Points

• DoubleLine ETF Adviser LP has taken a new position in NIKE, Inc., purchasing 27,658 shares valued at approximately $1.76 million during the first quarter.
• NIKE's recent earnings report for the quarter ended June 26th showed earnings of $0.14 EPS, exceeding analyst expectations, with a revenue of $11.10 billion, despite an 11.9% year-over-year decline.
• Chairman Mark G. Parker sold over 86,000 shares in August, reducing his ownership by over 10%, while institutional investors currently own 64.25% of the company's stock.

DoubleLine ETF Adviser LP purchased a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 27,658 shares of the footwear maker's stock, valued at approximately $1,756,000.

Several other large investors also recently modified their holdings of the stock. Spire Wealth Management lifted its stake in NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after acquiring an additional 416 shares in the last quarter. Janus Henderson Group PLC grew its holdings in NIKE by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after buying an additional 463,470 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after purchasing an additional 5,601 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its stake in NIKE by 20.2% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 52,370 shares of the footwear maker's stock worth $3,963,000 after buying an additional 8,792 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in NIKE by 75.1% in the fourth quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker's stock worth $40,835,000 after buying an additional 231,417 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This trade represents a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.80% of the company's stock.

Analyst Ratings Changes

NKE has been the subject of several recent research reports. Bank of America boosted their price objective on NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Barclays raised their price target on shares of NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a report on Friday, June 20th. Jefferies Financial Group reiterated a "buy" rating and set a $115.00 price objective on shares of NIKE in a research report on Friday, August 22nd. Finally, Morgan Stanley boosted their price target on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of "Moderate Buy" and an average target price of $78.22.

NIKE Stock Down 0.6%

Shares of NKE traded down $0.47 during mid-day trading on Tuesday, hitting $73.68. 5,156,073 shares of the company traded hands, compared to its average volume of 16,261,515. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The business has a 50 day moving average of $75.54 and a 200 day moving average of $67.83. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $108.82 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24.

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 for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the company earned $0.99 EPS. NIKE's quarterly revenue was down 11.9% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio is currently 74.07%.

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.