Focus Financial Network Inc. Acquires Shares of 5,819 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 position 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 purchased 5,819 shares of the footwear maker's stock, valued at approximately $416,000.

Other large investors have also recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the fourth quarter worth approximately $28,000. Stone House Investment Management LLC bought a new stake in shares of NIKE in the first quarter worth approximately $25,000. Saudi Central Bank bought a new stake in shares of NIKE in the first quarter worth approximately $30,000. Putney Financial Group LLC bought a new stake in shares of NIKE in the fourth quarter worth approximately $40,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of NIKE in the first quarter worth approximately $37,000. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on NKE shares. Zacks Research upgraded shares of NIKE from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Sanford C. Bernstein restated an "outperform" rating on shares of NIKE in a research report on Monday, August 18th. Piper Sandler boosted their target price on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. UBS Group set a $71.00 target price on shares of NIKE and gave the company a "neutral" rating in a research report on Friday. Finally, TD Cowen upgraded shares of NIKE from a "hold" rating to a "buy" rating and boosted their target price for the company from $62.00 to $85.00 in a research report on Wednesday, September 10th. 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 data from MarketBeat, NIKE has an average rating of "Moderate Buy" and an average target price of $79.46.

NIKE Price Performance

NKE traded down $0.18 during trading hours on Tuesday, hitting $71.10. The company's stock had a trading volume of 4,990,982 shares, compared to its average volume of 16,093,799. The business's 50-day moving average price is $75.16 and its 200-day moving average price is $67.38. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The stock has a market cap of $105.01 billion, a price-to-earnings ratio of 32.91, a P/E/G ratio of 2.57 and a beta of 1.24. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

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

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. NIKE's payout ratio is currently 74.07%.

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.