Elyxium Wealth LLC Acquires New Holdings in NIKE, Inc. $NKE

Key Points

• Elyxium Wealth LLC acquired 38,976 NIKE shares worth approximately $1.6 million in the second quarter. Institutional investors collectively own 64.25% of the company.
• Analysts maintain a consensus “Hold” rating on NIKE, with an average price target of $53.53; ratings include one Strong Buy, 13 Buys, 18 Holds and five Sells.
• NIKE shares opened at $40.73, near their 12-month low, while the company reported quarterly EPS and revenue above estimates. NIKE also declared a quarterly dividend of $0.41 per share, implying a 4.0% annualized yield.

Elyxium Wealth LLC bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 38,976 shares of the footwear maker's stock, valued at approximately $1,600,000.

Several other large investors also recently added to or reduced their stakes in NKE. Cornerstone Financial Management LLC acquired a new position in shares of NIKE during the 4th quarter worth $26,000. Sankala Group LLC acquired a new stake in shares of NIKE in the 4th quarter valued at $26,000. J.Safra Asset Management Corp acquired a new stake in shares of NIKE in the 4th quarter valued at $29,000. Kemnay Advisory Services Inc. bought a new stake in NIKE in the fourth quarter worth $30,000. Finally, Scarborough Advisors LLC bought a new stake in NIKE in the first quarter worth $25,000. 64.25% of the stock is owned by institutional investors.

Insider Activity at NIKE

In other news, CFO Matthew Friend sold 2,463 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $102,460.80. Following the completion of the transaction, the chief financial officer owned 82,165 shares of the company's stock, valued at approximately $3,418,064. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $42.05, for a total transaction of $204,657.35. Following the completion of the sale, the insider owned 57,436 shares of the company's stock, valued at approximately $2,415,183.80. The trade was a 7.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,142 shares of company stock worth $1,169,380 over the last ninety days. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on NKE shares. Berenberg Bank set a $49.00 price target on NIKE and gave the stock a "hold" rating in a research report on Friday, July 3rd. China Renaissance reduced their target price on NIKE from $50.30 to $47.30 and set a "hold" rating for the company in a report on Thursday, July 2nd. BTIG Research reaffirmed a "buy" rating and set a $55.00 target price on shares of NIKE in a research report on Wednesday, July 1st. Citigroup reissued a "neutral" rating on shares of NIKE in a research report on Wednesday, July 22nd. Finally, Wall Street Zen raised shares of NIKE from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, NIKE currently has a consensus rating of "Hold" and an average target price of $53.53.

NIKE Stock Down 1.2%

Shares of NKE stock opened at $40.73 on Friday. NIKE, Inc. has a 12 month low of $40.00 and a 12 month high of $80.17. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. The firm has a market cap of $60.42 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11. The stock has a 50 day moving average of $42.90 and a 200-day moving average of $48.73.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter last year, the company posted $0.14 earnings per share. NIKE's quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts predict that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.41 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 annualized dividend and a dividend yield of 4.0%. NIKE's payout ratio is presently 78.47%.

About NIKE

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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