EP Wealth Advisors LLC Acquires 31,080 Shares of NIKE, Inc. $NKE

Key Points

• EP Wealth Advisors LLC increased its stake in NIKE, Inc. by 7.6%, acquiring an additional 31,080 shares, bringing its total holdings to 438,092 shares, valued at approximately $27.81 million.
• NIKE's Chairman, Mark G. Parker, recently sold 86,078 shares for over $6.53 million, resulting in a 10.36% decrease in his ownership of the stock.
• Several analysts have given NIKE a consensus rating of "Moderate Buy" with an average price target of $78.22, indicating mixed expectations about the stock's future performance.

EP Wealth Advisors LLC lifted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 438,092 shares of the footwear maker's stock after acquiring an additional 31,080 shares during the quarter. EP Wealth Advisors LLC's holdings in NIKE were worth $27,810,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new stake in shares of NIKE during the first quarter worth about $25,000. Heck Capital Advisors LLC purchased a new stake in NIKE in the fourth quarter valued at approximately $28,000. Saudi Central Bank acquired a new position in NIKE in the first quarter valued at approximately $30,000. Roxbury Financial LLC lifted its holdings in NIKE by 52.1% in the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after acquiring an additional 201 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of NIKE during the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction dated 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 completion of the sale, the chairman owned 744,988 shares of the company's stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on NKE. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research note on Friday, June 20th. Robert W. Baird boosted their price objective on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. Telsey Advisory Group restated a "market perform" rating and set a $70.00 target price on shares of NIKE in a research note on Friday, June 27th. Truist Financial reduced their price objective on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Tuesday, June 24th. Finally, JPMorgan Chase & Co. raised NIKE from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $64.00 to $93.00 in a report on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, NIKE has an average rating of "Moderate Buy" and a consensus price target of $78.22.

NIKE Price Performance

NKE opened at $77.34 on Tuesday. The stock has a market cap of $114.22 billion, a price-to-earnings ratio of 35.81, a PEG ratio of 2.81 and a beta of 1.24. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average price of $74.65 and a 200 day moving average price of $67.89.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business's revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 earnings per share. Analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. NIKE's payout ratio is currently 74.07%.

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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