Peloton Wealth Strategists Invests $3.50 Million in NIKE, Inc. $NKE

Peloton Wealth Strategists purchased a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 54,870 shares of the footwear maker's stock, valued at approximately $3,496,000. NIKE comprises approximately 1.4% of Peloton Wealth Strategists' portfolio, making the stock its 27th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Main Street Financial Solutions LLC raised its position in shares of NIKE by 4.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker's stock valued at $244,000 after buying an additional 139 shares during the period. Diligent Investors LLC raised its position in NIKE by 4.3% in the fourth quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker's stock valued at $237,000 after purchasing an additional 153 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of NIKE by 4.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker's stock worth $253,000 after purchasing an additional 163 shares during the period. Lakeshore Capital Group Inc. increased its position in shares of NIKE by 2.9% during the 4th quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker's stock worth $374,000 after purchasing an additional 165 shares during the last quarter. Finally, ANB Bank raised its holdings in NIKE by 0.7% in the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker's stock valued at $1,621,000 after buying an additional 165 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

NKE stock opened at $45.06 on Wednesday. The business's 50-day moving average is $44.30 and its two-hundred day moving average is $55.14. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. The firm has a market capitalization of $66.72 billion, a P/E ratio of 29.84, a P/E/G ratio of 1.96 and a beta of 1.12. NIKE, Inc. has a 1 year low of $41.35 and a 1 year high of $80.17.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. The business had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business's revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. Analysts anticipate that NIKE, Inc. will post 1.49 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.6%. NIKE's dividend payout ratio is currently 108.61%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Weiss Ratings cut shares of NIKE from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, June 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of NIKE in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft decreased their price target on NIKE from $54.00 to $51.00 and set a "hold" rating on the stock in a research note on Wednesday, April 1st. HSBC downgraded NIKE from a "buy" rating to a "hold" rating and cut their price objective for the company from $90.00 to $48.00 in a report on Monday, April 13th. Finally, UBS Group set a $50.00 target price on NIKE and gave the company a "neutral" rating in a research report on Wednesday, June 10th. Fifteen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $60.89.

Insiders Place Their Bets

In other NIKE news, Director Timothy D. Cook purchased 25,000 shares of the firm's stock in a transaction on Friday, April 10th. The stock was bought at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the acquisition, the director directly owned 130,480 shares of the company's stock, valued at approximately $5,536,266.40. This represents a 23.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Philip Mccartney sold 17,398 shares of the company's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the transaction, the executive vice president directly owned 53,133 shares of the company's stock, valued at approximately $2,453,681.94. This represents a 24.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders acquired 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is currently owned by insiders.

About NIKE

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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