Sandhill Capital Partners LLC Boosts Stake in NIKE, Inc. $NKE

Key Points

• Sandhill Capital Partners LLC increased its stake in NIKE, Inc. by 7.0%, bringing their total holdings to 57,099 shares, valued at approximately $3.63 million.
• NIKE's stock recently
  traded at $76.82 and has experienced a year-over-year revenue decline of 11.9% while reporting $0.14 earnings per share, beating analysts' expectations.
• The company announced a quarterly $0.40 dividend to be paid on October 1st, representing an annual yield of 2.1%.

Sandhill Capital Partners LLC boosted its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,099 shares of the footwear maker's stock after acquiring an additional 3,746 shares during the quarter. Sandhill Capital Partners LLC's holdings in NIKE were worth $3,625,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. AlTi Global Inc. grew its position 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 worth $2,813,000 after purchasing an additional 150 shares in the last quarter. Peregrine Asset Advisers Inc. boosted its stake in NIKE by 1.2% in the 1st quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock worth $934,000 after purchasing an additional 181 shares during the period. Aaron Wealth Advisors LLC grew its holdings in NIKE by 4.3% during the 1st quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock valued at $296,000 after buying an additional 192 shares in the last quarter. Crew Capital Management Ltd. raised its position in shares of NIKE by 1.4% during the first quarter. Crew Capital Management Ltd. now owns 13,752 shares of the footwear maker's stock valued at $873,000 after buying an additional 192 shares during the last quarter. Finally, Sculati Wealth Management LLC lifted its holdings in shares of NIKE by 1.4% in the fourth quarter. Sculati Wealth Management LLC now owns 14,387 shares of the footwear maker's stock worth $1,089,000 after buying an additional 195 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was 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 in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.80% of the company's stock.

NIKE Stock Down 0.8%

NIKE stock opened at $76.82 on Wednesday. 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 firm has a market capitalization of $113.46 billion, a P/E ratio of 35.56, a P/E/G ratio of 2.81 and a beta of 1.27. The stock's fifty day simple moving average is $71.62 and its 200-day simple moving average is $67.63. 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 data 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 business had revenue of $11.10 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business earned $0.99 EPS. As a group, equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. NIKE's payout ratio is currently 74.07%.

Analysts Set New Price Targets

Several research firms recently weighed in on NKE. UBS Group began coverage on shares of NIKE in a research note on Sunday, July 6th. They set a "buy" rating for the company. Wells Fargo & Company lifted their price objective on NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a report on Friday, June 20th. JPMorgan Chase & Co. upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and upped their target price for the company from $64.00 to $93.00 in a research report on Monday, July 28th. Finally, Evercore ISI decreased their price objective on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

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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