Glenview Trust co Boosts Position in NIKE, Inc. $NKE

Key Points

• Glenview Trust co has increased its holdings in NIKE, Inc. by 89.0%, now owning 187,199 shares valued at approximately $11.88 million.
• Several other hedge funds, including Stone House Investment Management and Saudi Central Bank, have also recently made new investments in NIKE.
• NIKE's stock has experienced a 11.9% decline in revenue compared to the previous year, with the latest earnings showing an EPS of $0.14, exceeding expectations of $0.12.

Glenview Trust co grew its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 89.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 187,199 shares of the footwear maker's stock after buying an additional 88,149 shares during the period. Glenview Trust co's holdings in NIKE were worth $11,883,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Stone House Investment Management LLC purchased a new position in shares of NIKE during the first quarter valued at approximately $25,000. Heck Capital Advisors LLC purchased a new stake in NIKE in the fourth quarter worth $28,000. Saudi Central Bank purchased a new stake in NIKE in the first quarter worth $30,000. Roxbury Financial LLC grew its stake in NIKE by 52.1% in the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after purchasing an additional 201 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new stake in NIKE in the first quarter worth $37,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company's stock.

NIKE Trading Down 0.7%

NIKE stock opened at $73.60 on Wednesday. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The business's fifty day moving average is $75.54 and its 200 day moving average is $67.87. The stock has a market capitalization of $108.70 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. 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 posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 EPS. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 2.2%. NIKE's dividend payout ratio is currently 74.07%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Piper Sandler upped their price target on NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. Needham & Company LLC upped their price target on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. The Goldman Sachs Group upped their price target on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Wells Fargo & Company upped their price target on NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Finally, DZ Bank downgraded NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a report on Thursday, July 10th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $78.22.

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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