Cetera Investment Advisers Raises Stock Position in NIKE, Inc. (NYSE:NKE)

Key Points

• Cetera Investment Advisers increased its holdings in NIKE, Inc. by 3.3%, owning a total of 201,850 shares valued at approximately $12.81 million.
• NIKE's recent earnings report showed an EPS of $0.14, exceeding expectations, but revenue declined by 11.9% year-over-year.
• Institutional investors control 64.25% of NIKE's stock, with varied recent actions from funds like Elgethun Capital Management and Cohen & Steers Inc.

Cetera Investment Advisers grew its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 201,850 shares of the footwear maker's stock after purchasing an additional 6,406 shares during the quarter. Cetera Investment Advisers' holdings in NIKE were worth $12,813,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elgethun Capital Management lifted its stake in shares of NIKE by 13.7% during the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after acquiring an additional 149 shares during the period. AlTi Global Inc. grew its stake in NIKE by 0.4% in the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after acquiring an additional 150 shares during the period. Cohen & Steers Inc. raised its stake in shares of NIKE by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock valued at $240,000 after purchasing an additional 160 shares during the period. Peregrine Asset Advisers Inc. raised its stake in shares of NIKE by 1.2% in the 1st quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock valued at $934,000 after purchasing an additional 181 shares during the period. Finally, Aaron Wealth Advisors LLC raised its stake in shares of NIKE by 4.3% in the 1st quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock valued at $296,000 after purchasing an additional 192 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

NKE stock traded down $1.59 on Wednesday, reaching $76.74. The company had a trading volume of 14,581,237 shares, compared to its average volume of 13,248,742. NIKE, Inc. has a 1 year low of $52.28 and a 1 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's fifty day moving average is $67.80 and its 200 day moving average is $67.49. The company has a market cap of $113.34 billion, a P/E ratio of 35.53, a PEG ratio of 2.88 and a beta of 1.25.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $11.10 billion during 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%. NIKE's revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 EPS. On average, research 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 was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Monday, June 2nd. NIKE's dividend payout ratio is currently 74.07%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NKE. Morgan Stanley increased their price objective on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. Telsey Advisory Group restated a "market perform" rating and set a $70.00 target price on shares of NIKE in a research note on Friday, June 27th. DZ Bank downgraded shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 price target on the stock. in a research note on Thursday, July 10th. Stifel Nicolaus cut their price target on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Finally, Needham & Company LLC raised their price objective on NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE has an average rating of "Moderate Buy" and a consensus price target of $78.22.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred 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 transaction, the chairman owned 842,361 shares of the company's stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

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.