NIKE, Inc. $NKE Shares Purchased by Northeast Financial Consultants Inc

Key Points

• Northeast Financial Consultants Inc increased its stake in NIKE, Inc. by 43.1%, acquiring an additional 6,000 shares in the first quarter, bringing its total holdings to 19,906 shares worth approximately $1.26 million.
• NIKE's Chairman, Mark G. Parker, sold 110,000 shares at around $72.29 each, resulting in an 11.55% decrease in his ownership, maintaining a total of 842,361 shares valued at nearly $60.89 million.
• The company recently announced a quarterly dividend of $0.40 per share, which is set to be paid on October 1st, contributing to an annualized yield of 2.2%.

Northeast Financial Consultants Inc boosted its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 43.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 19,906 shares of the footwear maker's stock after acquiring an additional 6,000 shares during the quarter. Northeast Financial Consultants Inc's holdings in NIKE were worth $1,264,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in NKE. Stone House Investment Management LLC acquired a new stake in NIKE in the 1st quarter valued at $25,000. Heck Capital Advisors LLC acquired a new stake in NIKE in the 4th quarter valued at $28,000. Saudi Central Bank acquired a new stake in NIKE in the 1st quarter valued at $30,000. Roxbury Financial LLC grew its stake in NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after acquiring an additional 201 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new stake in NIKE in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through this link. 0.80% of the stock is owned by insiders.

NIKE Trading Up 0.4%

Shares of NKE stock opened at $74.18 on Tuesday. The company's 50-day moving average price is $75.54 and its 200-day moving average price is $67.83. 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 stock has a market cap of $109.55 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 2.69 and a beta of 1.24. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company's revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS. As a group, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on NKE shares. DZ Bank cut shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a research note on Thursday, July 10th. Truist Financial lowered their target price on shares of NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research note on Friday, June 20th. Jefferies Financial Group reaffirmed a "buy" rating and set a $115.00 target price on shares of NIKE in a research note on Friday, August 22nd. Finally, Royal Bank Of Canada lowered their target price on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, NIKE presently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

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.

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