Everpar Advisors LLC Invests $265,000 in NIKE, Inc. $NKE

Key Points

• Everpar Advisors LLC has invested approximately $265,000 in NIKE, Inc., acquiring 3,735 shares during the second quarter.
• NIKE reported a quarterly earnings per share (EPS) of $0.14, exceeding analysts' expectations of $0.12, but noted a revenue decline of 11.9% year-over-year.
• The company has announced a quarterly dividend of $0.40 per share, set to be paid on October 1st, representing an annual yield of 2.2%.

Everpar Advisors LLC acquired a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,735 shares of the footwear maker's stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Stone House Investment Management LLC bought a new stake in NIKE in the 1st quarter valued at $25,000. Heck Capital Advisors LLC purchased a new position in NIKE during the fourth quarter worth $28,000. Saudi Central Bank bought a new stake in NIKE in the first quarter worth about $30,000. Roxbury Financial LLC boosted its stake in shares of NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after purchasing an additional 201 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new position in NIKE during the 1st quarter worth $37,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on NKE shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research report on Friday, June 20th. DZ Bank cut NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective on the stock. in a report on Thursday, July 10th. Piper Sandler increased their price objective on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, June 27th. Morgan Stanley upped their price objective on shares of NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $70.00 price target on shares of NIKE in a research note on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $79.04.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.80% of the company's stock.

NIKE Stock Performance

NKE stock traded down $1.22 during mid-day trading on Friday, reaching $70.88. The company had a trading volume of 33,397,876 shares, compared to its average volume of 10,678,684. 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 stock's 50-day simple moving average is $75.19 and its two-hundred day simple moving average is $67.57. The stock has a market capitalization of $104.68 billion, a P/E ratio of 32.81, a P/E/G ratio of 2.61 and a beta of 1.24. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results 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. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the prior year, the firm posted $0.99 EPS. NIKE's revenue was down 11.9% compared to the same quarter last year. Research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm 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 dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE's dividend payout ratio is presently 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.