Forum Financial Management LP Has $712,000 Stock Position in NIKE, Inc. $NKE

Key Points

• Forum Financial Management LP increased its stake in NIKE, Inc. by 115.5% to a total of 10,016 shares, valued at approximately $712,000.
• NIKE reported earnings of $0.49 per share for the last quarter, exceeding analysts' expectations of $0.27 per share, with revenues of $11.72 billion.
• The company recently declared a quarterly dividend of $0.40 per share, equating to an annual yield of 2.3%.

Forum Financial Management LP raised its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 115.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,016 shares of the footwear maker's stock after purchasing an additional 5,368 shares during the quarter. Forum Financial Management LP's holdings in NIKE were worth $712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in NKE. Brighton Jones LLC boosted its holdings in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after purchasing an additional 160,980 shares in the last quarter. GAMMA Investing LLC boosted its holdings in NIKE by 39.1% during the first quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker's stock valued at $1,325,000 after purchasing an additional 5,863 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in NIKE by 9.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 122,092 shares of the footwear maker's stock valued at $7,750,000 after purchasing an additional 10,823 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in NIKE by 66.0% during the first quarter. International Assets Investment Management LLC now owns 11,532 shares of the footwear maker's stock valued at $732,000 after purchasing an additional 4,585 shares in the last quarter. Finally, Strategic Investment Advisors MI boosted its holdings in NIKE by 17.2% during the first quarter. Strategic Investment Advisors MI now owns 3,741 shares of the footwear maker's stock valued at $237,000 after purchasing an additional 550 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Up 0.9%

NYSE:NKE opened at $69.68 on Friday. The stock's fifty day moving average price is $72.54 and its two-hundred day moving average price is $67.67. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The company has a market cap of $103.00 billion, a price-to-earnings ratio of 35.73, a P/E/G ratio of 2.55 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the prior year, the business earned $0.70 EPS. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE's dividend payout ratio is currently 82.05%.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research analyst reports. Truist Financial reiterated a "buy" rating and issued a $85.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Citigroup upgraded shares of NIKE from a "neutral" rating to a "positive" rating in a research note on Friday, September 19th. Wall Street Zen upgraded shares of NIKE from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. BTIG Research initiated coverage on shares of NIKE in a research note on Tuesday, October 14th. They issued a "buy" rating and a $100.00 target price for the company. Finally, Cowen upgraded shares of NIKE from a "hold" rating to a "buy" rating in a research note on Wednesday, September 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of "Moderate Buy" and an average price target of $82.21.

Insider Buying and Selling at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares of the company's stock, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the 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 completion of the transaction, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.

NIKE Company 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.

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