Everett Harris & Co. CA Purchases 5,626 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Everett Harris & Co. CA increased its stake in NIKE, Inc. by 0.5%, now holding over 1 million shares valued at approximately $68 million, which accounts for 0.9% of their portfolio.
• NIKE's stock recently saw an 11.55% decrease in Chairman Mark G. Parker's ownership after he sold 110,000 shares for about $7.95 million.
• The company reported a quarterly revenue of $11.10 billion, surpassing analyst expectations, despite a year-over-year revenue decline of 11.9%.

Everett Harris & Co. CA boosted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 0.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,072,954 shares of the footwear maker's stock after buying an additional 5,626 shares during the period. NIKE makes up approximately 0.9% of Everett Harris & Co. CA's investment portfolio, making the stock its 24th largest position. Everett Harris & Co. CA owned about 0.07% of NIKE worth $68,111,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. AlTi Global Inc. boosted its stake in shares of NIKE by 0.4% in the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after purchasing an additional 150 shares in the last quarter. Cohen & Steers Inc. boosted its stake in shares of NIKE by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock valued at $240,000 after purchasing an additional 160 shares in the last quarter. Peregrine Asset Advisers Inc. boosted its stake in shares of NIKE by 1.2% in the 1st quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock valued at $934,000 after purchasing an additional 181 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in shares of NIKE by 4.3% in the 1st quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock valued at $296,000 after purchasing an additional 192 shares in the last quarter. Finally, Crew Capital Management Ltd. boosted its stake in shares of NIKE by 1.4% in the 1st quarter. Crew Capital Management Ltd. now owns 13,752 shares of the footwear maker's stock valued at $873,000 after purchasing an additional 192 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NKE traded down $0.18 during midday trading on Friday, hitting $74.17. 6,733,814 shares of the company traded hands, compared to its average volume of 11,448,546. The stock has a 50-day moving average of $69.70 and a 200-day moving average of $67.60. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The firm has a market cap of $109.54 billion, a P/E ratio of 34.34, a PEG ratio of 2.70 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

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

NIKE Announces Dividend

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

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman owned 842,361 shares of the company's stock, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on NKE. DZ Bank downgraded shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 price target on the stock. in a research note on Thursday, July 10th. Argus upgraded shares of NIKE to a "buy" rating in a research report on Sunday, July 6th. Williams Trading cut their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Morgan Stanley lifted their target price 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. Finally, UBS Group began coverage on shares of NIKE in a research report on Sunday, July 6th. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $78.22.

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.