Ground Swell Capital LLC Invests $225,000 in NIKE, Inc. (NYSE:NKE)

Key Points

• Ground Swell Capital LLC invested approximately $225,000 in NIKE, acquiring 3,546 shares during the first quarter, as reported in its recent 13F filing.
• NIKE declared a quarterly dividend of $0.40 per share to be paid on October 1st, representing an annualized dividend yield of 2.1%.
• The stock has shown volatility with a 52-week low of $52.28 and a high of $90.62, currently trading at around $77.28.

Ground Swell Capital LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,546 shares of the footwear maker's stock, valued at approximately $225,000.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after acquiring an additional 4,957,494 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Capital World Investors boosted its holdings in shares of NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after acquiring an additional 2,288,627 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of NIKE by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock worth $1,332,331,000 after acquiring an additional 620,214 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of NIKE by 8.8% during the fourth quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock worth $1,111,625,000 after acquiring an additional 1,183,641 shares during the period. Institutional investors own 64.25% of the company's stock.

NIKE Price Performance

Shares of NYSE NKE opened at $77.28 on Thursday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The stock has a market cap of $114.13 billion, a price-to-earnings ratio of 35.78, a PEG ratio of 2.72 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The firm's 50-day simple moving average is $70.49 and its 200 day simple moving average is $67.67.

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

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 2.1%. NIKE's dividend payout ratio (DPR) is presently 74.07%.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NKE has been the subject of several recent research reports. Evercore ISI cut their price target on NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. Robert W. Baird upped their target price on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Wells Fargo & Company upped their target price on NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Morgan Stanley upped their target price on NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. Finally, Truist Financial cut their target price on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, NIKE presently has a consensus 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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