GM Advisory Group LLC Has $1.90 Million Position in NIKE, Inc. $NKE

Key Points

• GM Advisory Group LLC increased its position in NIKE, Inc. by 200.7% during the 1st quarter, owning nearly 30,000 shares valued at approximately $1.9 million.
• NIKE announced a quarterly dividend of $0.40 per share, which represents an annualized yield of 2.1% and reflects a payout ratio of 74.07%.
• NIKE's stock recently opened at $76.82, with a market capitalization of $113.46 billion and a current price target averaging $78.22 among analysts.

GM Advisory Group LLC boosted its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 200.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,993 shares of the footwear maker's stock after purchasing an additional 20,020 shares during the quarter. GM Advisory Group LLC's holdings in NIKE were worth $1,904,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NKE. Spire Wealth Management lifted its stake in NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after acquiring an additional 416 shares in the last quarter. Capitolis Liquid Global Markets LLC lifted its stake in NIKE by 40.9% during the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after acquiring an additional 90,000 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of NIKE by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock worth $460,160,000 after purchasing an additional 463,470 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after purchasing an additional 5,601 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its stake in shares of NIKE by 20.2% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 52,370 shares of the footwear maker's stock worth $3,963,000 after purchasing an additional 8,792 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Down 0.8%

NKE stock opened at $76.82 on Wednesday. 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 firm has a market capitalization of $113.46 billion, a PE ratio of 35.56, a PEG ratio of 2.81 and a beta of 1.27. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The stock has a 50-day simple moving average of $71.62 and a two-hundred day simple moving average of $67.63.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. The company's quarterly revenue was down 11.9% compared to the same quarter last year. On average, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced 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. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. NIKE's payout ratio is presently 74.07%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of 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 can be accessed through this hyperlink. 0.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NKE shares. Royal Bank Of Canada lowered their target price on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. DZ Bank cut NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a research note on Thursday, July 10th. Piper Sandler lifted their target price 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 lifted their target price on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, Truist Financial lowered their target price on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Tuesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $78.22.

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.

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