HB Wealth Management LLC Boosts Holdings in NIKE, Inc. (NYSE:NKE)

Key Points

• HB Wealth Management LLC increased its stake in NIKE, Inc. by 23.2%, acquiring an additional 9,782 shares to hold a total of 51,865 shares, valued at approximately $3.29 million.
• NIKE's recent quarterly earnings showed a profit of $0.14 per share, exceeding analysts' expectations, although the company's revenue fell 11.9% year-over-year to $11.10 billion.
• The company announced a quarterly dividend of $0.40 per share, representing a yearly yield of 2.10%, with a dividend payout ratio of 74.07%.

HB Wealth Management LLC raised its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 23.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,865 shares of the footwear maker's stock after acquiring an additional 9,782 shares during the period. HB Wealth Management LLC's holdings in NIKE were worth $3,292,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Spire Wealth Management increased its holdings in NIKE by 4.4% in 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 during the last quarter. Renaissance Technologies LLC increased its holdings in NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after acquiring an additional 2,416,601 shares during the last quarter. Capitolis Liquid Global Markets LLC increased its holdings in NIKE by 40.9% in 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 during the last quarter. Janus Henderson Group PLC increased its holdings in NIKE by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after acquiring an additional 463,470 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in NIKE by 0.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after acquiring an additional 5,601 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

Shares of NYSE NKE traded down $1.41 during midday trading on Thursday, reaching $75.27. The company had a trading volume of 6,667,080 shares, compared to its average volume of 17,459,277. The business's 50-day simple moving average is $67.80 and its 200 day simple moving average is $67.49. The stock has a market cap of $111.17 billion, a P/E ratio of 34.83, a P/E/G ratio of 2.88 and a beta of 1.25. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. 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 released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion for 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 business's quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 earnings per share. On average, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on NKE shares. Needham & Company LLC boosted their target price on shares of NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, June 27th. JPMorgan Chase & Co. upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $64.00 to $93.00 in a report on Monday. Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Williams Trading reduced their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Finally, Barclays boosted their target price on shares of NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $78.22.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction 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 sale, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.80% of the company's stock.

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.