Jupiter Wealth Management LLC Has $2.03 Million Holdings in NIKE, Inc. $NKE

Key Points

• Jupiter Wealth Management LLC has decreased its position in NIKE, Inc. by 17.4%, now holding 32,646 shares worth approximately $2.03 million.
• NIKE's stock performance shows a market cap of $108.7 billion, with a 12-month high of $90.62 and a low of $52.28.
• The company declared a quarterly dividend of $0.40, representing an annualized dividend of $1.60 and a 2.2% yield.

Jupiter Wealth Management LLC decreased its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 17.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,646 shares of the footwear maker's stock after selling 6,884 shares during the quarter. NIKE comprises 1.3% of Jupiter Wealth Management LLC's holdings, making the stock its 19th largest holding. Jupiter Wealth Management LLC's holdings in NIKE were worth $2,027,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Spire Wealth Management increased 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 purchasing an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of NIKE by 0.6% in the first 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 buying an additional 5,601 shares in the last quarter. OMERS ADMINISTRATION Corp grew its holdings in shares of NIKE by 20.2% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 52,370 shares of the footwear maker's stock valued at $3,963,000 after buying an additional 8,792 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of NIKE by 75.1% during the fourth quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker's stock worth $40,835,000 after acquiring an additional 231,417 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of NIKE in the 1st quarter worth about $25,963,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.80% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on NKE. Robert W. Baird raised their price target on shares of NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. Needham & Company LLC increased their price objective on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $70.00 target price on shares of NIKE in a research report on Friday, June 27th. Wall Street Zen upgraded NIKE from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $115.00 price target on shares of NIKE in a research report on Friday, August 22nd. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and twelve 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 a consensus target price of $78.67.

NIKE Stock Performance

Shares of NKE opened at $73.60 on Wednesday. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $108.70 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 2.69 and a beta of 1.24. The stock has a 50 day moving average of $75.54 and a 200 day moving average of $67.87. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping 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 return on equity of 23.33% and a net margin of 6.95%.The business's revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.99 earnings per share. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's payout ratio is 74.07%.

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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