NIKE, Inc. $NKE Shares Purchased by GAMMA Investing LLC

Key Points

• GAMMA Investing LLC increased its stake in NIKE, Inc. by 35.4% during Q2, acquiring 7,391 additional shares, bringing its total holdings to 28,268 shares valued at approximately $2,008,000.
• NIKE recently reported earnings of $0.14 per share, exceeding analysts' expectations, along with revenue of $11.10 billion, despite an 11.9% decline year-over-year.
• The company declared a quarterly dividend of $0.40 per share, with an annualized yield of 2.2%, to be paid on October 1st.

GAMMA Investing LLC raised its position in NIKE, Inc. (NYSE:NKE - Free Report) by 35.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,268 shares of the footwear maker's stock after purchasing an additional 7,391 shares during the quarter. GAMMA Investing LLC's holdings in NIKE were worth $2,008,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caldwell Sutter Capital Inc. raised its position in NIKE by 6.3% in the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock valued at $170,000 after purchasing an additional 142 shares during the period. Westmount Partners LLC raised its position in NIKE by 2.9% in the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock valued at $367,000 after purchasing an additional 146 shares during the period. Matrix Trust Co raised its position in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock valued at $31,000 after purchasing an additional 153 shares during the period. RB Capital Management LLC raised its position in NIKE by 0.4% in the second quarter. RB Capital Management LLC now owns 46,327 shares of the footwear maker's stock valued at $3,291,000 after purchasing an additional 171 shares during the period. Finally, Breakwater Capital Group increased its position in shares of NIKE by 4.8% during the second quarter. Breakwater Capital Group now owns 3,873 shares of the footwear maker's stock worth $275,000 after acquiring an additional 177 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Price Performance

Shares of NKE opened at $71.29 on Tuesday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The company has a market capitalization of $105.29 billion, a price-to-earnings ratio of 33.01, a price-to-earnings-growth ratio of 2.57 and a beta of 1.24. The firm has a 50-day simple moving average of $75.16 and a 200-day simple moving average of $67.38. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results 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. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business 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% compared to the same quarter last year. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced 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 2.2%. NIKE's dividend payout ratio is 74.07%.

Wall Street Analyst Weigh In

NKE has been the topic of a number of recent research reports. UBS Group set a $71.00 price objective on NIKE and gave the stock a "neutral" rating in a research report on Friday. Bank of America upped their price objective on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Zacks Research raised NIKE from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Truist Financial cut their price objective on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. Finally, Piper Sandler upped their price objective on NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $79.04.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.80% of the company's stock.

About NIKE

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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