IFP Advisors Inc Has $1.39 Million Stake in NIKE, Inc. $NKE

Key Points

• IFP Advisors Inc increased its stake in NIKE, Inc. by 80.7% during the second quarter, owning 19,520 shares worth approximately $1.39 million as of the latest SEC filing.
• Analysts have upgraded NIKE's rating, with three firms now labeling it as a Strong Buy and projecting an average price target of $81.57.
• NIKE reported a net margin of 6.23% and revenue of $11.72 billion for its last quarter, exceeding analyst expectations.

IFP Advisors Inc grew its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 80.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 19,520 shares of the footwear maker's stock after buying an additional 8,716 shares during the period. IFP Advisors Inc's holdings in NIKE were worth $1,387,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in NKE. Stone House Investment Management LLC acquired a new stake in shares of NIKE during the 1st quarter worth approximately $25,000. Mascoma Wealth Management LLC acquired a new stake in NIKE during the second quarter worth $26,000. Halbert Hargrove Global Advisors LLC increased its holdings in NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock valued at $28,000 after buying an additional 362 shares during the period. Saudi Central Bank acquired a new position in shares of NIKE in the 1st quarter valued at $30,000. Finally, Matrix Trust Co lifted its holdings in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after acquiring an additional 153 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on NKE. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Truist Financial reiterated a "buy" rating and issued a $85.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Cowen upgraded NIKE from a "hold" rating to a "buy" rating in a research report on Wednesday, September 10th. Piper Sandler set a $84.00 price target on NIKE and gave the company an "overweight" rating in a research report on Wednesday, October 1st. Finally, Morgan Stanley set a $72.00 price objective on NIKE and gave the company a "positive" rating in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and an average price target of $81.57.

NIKE Stock Performance

Shares of NYSE:NKE opened at $65.25 on Monday. The business has a fifty day moving average of $73.80 and a 200-day moving average of $67.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76. The firm has a market cap of $96.45 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 2.38 and a beta of 1.29.

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

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, September 2nd. NIKE's payout ratio is 82.05%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was 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 of the company's stock, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president owned 29,396 shares of the company's stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,378 shares of company stock worth $14,794,264 over the last quarter. Corporate insiders own 0.80% of the company's stock.

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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