Focus Financial Network Inc. Purchases New Shares in NIKE, Inc. $NKE

Key Points

• Focus Financial Network Inc. acquired 5,819 shares of NIKE, Inc. during the second quarter, worth approximately $416,000.
• NIKE's Chairman, Mark G. Parker, sold over 86,000 shares recently, reducing his stake by 10.36% to approximately 744,988 shares.
• Analysts have mixed views on NIKE, with price targets ranging from $64 to $93, indicating ongoing interest and volatility in the stock.

Focus Financial Network Inc. purchased a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 5,819 shares of the footwear maker's stock, valued at approximately $416,000.

A number of other large investors have also added to or reduced their stakes in NKE. Stone House Investment Management LLC acquired a new stake in NIKE during the 1st quarter valued at $25,000. Heck Capital Advisors LLC acquired a new position in NIKE during the 4th quarter worth $28,000. Saudi Central Bank acquired a new position in NIKE during the 1st quarter worth $30,000. Roxbury Financial LLC grew its holdings in NIKE by 52.1% during the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after acquiring an additional 201 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new position in NIKE during the 1st quarter worth $37,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the 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 sale, the chairman owned 744,988 shares of the company's stock, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

NIKE Trading Down 1.7%

Shares of NIKE stock opened at $70.88 on Friday. The stock has a market capitalization of $104.68 billion, a P/E ratio of 32.81, a price-to-earnings-growth ratio of 2.57 and a beta of 1.24. 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 50-day simple moving average of $75.19 and a 200 day simple moving average of $67.50. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62.

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 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 for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The company's revenue was down 11.9% on a year-over-year basis. Research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

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 issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. NIKE's dividend payout ratio is currently 74.07%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NKE shares. JPMorgan Chase & Co. raised shares of NIKE from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $64.00 to $93.00 in a report on Monday, July 28th. Piper Sandler raised their price objective on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Evercore ISI decreased their price objective on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. TD Cowen raised shares of NIKE from a "hold" rating to a "buy" rating and raised their price objective for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. Finally, Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $79.04.

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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