Spirepoint Private Client LLC Takes $2.56 Million Position in NIKE, Inc. $NKE

Key Points

• Spirepoint Private Client LLC has acquired a new stake in NIKE, Inc. worth approximately $2.56 million, buying 35,987 shares during the 2nd quarter.
• Insider trading activity included the sale of 86,078 shares by Chairman Mark G. Parker, reducing his ownership by 10.36% and leaving him with 744,988 shares valued at over $56 million.
• NIKE's quarterly earnings results showed an EPS of $0.14, exceeding expectations, but revenue declined 11.9% year-over-year.

Spirepoint Private Client LLC bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 35,987 shares of the footwear maker's stock, valued at approximately $2,557,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NKE. Caldwell Sutter Capital Inc. lifted its position in NIKE by 6.3% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock worth $170,000 after buying an additional 142 shares in the last quarter. Westmount Partners LLC lifted its position in NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock worth $367,000 after buying an additional 146 shares in the last quarter. Matrix Trust Co lifted its position in NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after buying an additional 153 shares in the last quarter. RB Capital Management LLC lifted its position in NIKE by 0.4% during the 2nd quarter. RB Capital Management LLC now owns 46,327 shares of the footwear maker's stock worth $3,291,000 after buying an additional 171 shares in the last quarter. Finally, Breakwater Capital Group lifted its position in NIKE by 4.8% during the 2nd quarter. Breakwater Capital Group now owns 3,873 shares of the footwear maker's stock worth $275,000 after buying an additional 177 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares of the company's stock, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.80% of the stock is currently owned by company insiders.

NIKE Stock Performance

Shares of NKE stock opened at $69.31 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The stock has a market cap of $102.36 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 2.51 and a beta of 1.24. The stock has a 50-day moving average of $74.99 and a 200-day moving average of $67.34. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.26.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS 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 analysts' expectations of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.NIKE's revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 EPS. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid 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 dividend yield of 2.3%. NIKE's dividend payout ratio is 74.07%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NKE shares. TD Cowen upgraded shares of NIKE from a "hold" rating to a "buy" rating and upped their price target for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Truist Financial cut their target price on shares of NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. Bank of America upped their target price on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Royal Bank Of Canada upgraded shares of NIKE from a "sector perform" rating to an "outperform" rating and upped their target price for the company from $76.00 to $90.00 in a research report on Thursday, September 18th. Finally, The Goldman Sachs Group set a $85.00 target price on shares of NIKE and gave the company a "buy" rating in a research report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.62.

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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