Parr Mcknight Wealth Management Group LLC Has $2.35 Million Stake in NIKE, Inc. (NYSE:NKE)

Parr Mcknight Wealth Management Group LLC lifted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 13.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,947 shares of the footwear maker's stock after purchasing an additional 4,362 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in NIKE were worth $2,345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Elgethun Capital Management raised 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 purchasing an additional 149 shares in the last quarter. AlTi Global Inc. raised its stake in shares of NIKE by 0.4% during the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after purchasing an additional 150 shares in the last quarter. Cohen & Steers Inc. raised its position in NIKE by 5.3% in the fourth quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock worth $240,000 after acquiring an additional 160 shares in the last quarter. Banco de Sabadell S.A raised its position in NIKE by 1.2% in the fourth quarter. Banco de Sabadell S.A now owns 15,966 shares of the footwear maker's stock worth $1,208,000 after acquiring an additional 188 shares in the last quarter. Finally, Aaron Wealth Advisors LLC raised its position in NIKE by 4.3% in the first quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock worth $296,000 after acquiring an additional 192 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NKE shares. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research report on Friday, June 27th. Berenberg Bank started coverage on shares of NIKE in a research report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price target on the stock. Stifel Nicolaus dropped their price target on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Robert W. Baird boosted their price target on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. Finally, Royal Bank Of Canada dropped their price target on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $77.15.

NIKE Price Performance

NIKE stock traded down $1.96 during mid-day trading on Friday, hitting $72.66. 12,749,362 shares of the company were exchanged, compared to its average volume of 15,230,401. The business has a fifty day moving average of $64.06 and a 200 day moving average of $67.40. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $107.47 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62.

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, beating analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.20%. The ex-dividend date was Monday, June 2nd. NIKE's dividend payout ratio is 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.