Lineweaver Wealth Advisors LLC Buys New Holdings in NIKE, Inc. $NKE

Key Points

• Lineweaver Wealth Advisors LLC has made a significant investment in NIKE, acquiring 11,990 shares valued at approximately $852,000.
• NIKE reported earnings of $0.14 per share for the latest quarter, exceeding analysts' expectations, with revenue totaling $11.10 billion, despite a year-on-year decline.
• The company will issue a quarterly dividend of $0.40 per share, with a dividend yield of 2.2% and a payout ratio of 74.07%.

Lineweaver Wealth Advisors LLC bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 11,990 shares of the footwear maker's stock, valued at approximately $852,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Central Valley Advisors LLC bought a new stake in NIKE during the second quarter valued at about $1,805,000. Bruce G. Allen Investments LLC boosted its position in shares of NIKE by 20.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,055 shares of the footwear maker's stock worth $75,000 after purchasing an additional 177 shares in the last quarter. PFW Advisors LLC raised its stake in shares of NIKE by 13.0% during the 2nd quarter. PFW Advisors LLC now owns 14,732 shares of the footwear maker's stock valued at $1,047,000 after buying an additional 1,690 shares during the last quarter. Pines Wealth Management LLC increased its stake in shares of NIKE by 29.6% in the 2nd quarter. Pines Wealth Management LLC now owns 6,906 shares of the footwear maker's stock valued at $528,000 after purchasing an additional 1,576 shares in the last quarter. Finally, Mirador Capital Partners LP increased its stake in NIKE by 8.4% during the 2nd quarter. Mirador Capital Partners LP now owns 82,370 shares of the footwear maker's stock worth $5,852,000 after buying an additional 6,381 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 110,000 shares of the 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of several research analyst reports. DZ Bank downgraded NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective on the stock. in a report on Thursday, July 10th. TD Cowen upgraded shares of NIKE from a "hold" rating to a "buy" rating and raised their price objective for the company from $62.00 to $85.00 in a research report on Wednesday, September 10th. Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Needham & Company LLC raised their price objective on shares of NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, Robert W. Baird lifted their target price on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and an average price target of $79.04.

NIKE Trading Down 1.7%

NYSE:NKE traded down $1.22 during trading hours on Friday, hitting $70.88. The stock had a trading volume of 33,397,876 shares, compared to its average volume of 10,678,684. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. 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 company has a market cap of $104.68 billion, a price-to-earnings ratio of 32.81, a P/E/G ratio of 2.57 and a beta of 1.24. The business's 50 day moving average is $75.19 and its 200-day moving average is $67.50.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. The business's quarterly revenue was down 11.9% on a year-over-year basis. Sell-side analysts anticipate 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 will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. NIKE's dividend payout ratio is currently 74.07%.

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.