SSA Swiss Advisors AG Grows Stock Position in NIKE, Inc. $NKE

Key Points

• SSA Swiss Advisors AG increased its stake in NIKE, Inc. by 17.8%, now holding 49,306 shares valued at approximately $3.79 million.
• NIKE reported $0.49 earnings per share for the latest quarter, exceeding estimates, with revenue of $11.72 billion, up 1% year-over-year.
• The company declared a quarterly dividend of $0.40 per share, with an annualized yield of 2.3% and a payout ratio of 82.05%.

SSA Swiss Advisors AG increased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 17.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,306 shares of the footwear maker's stock after purchasing an additional 7,440 shares during the quarter. NIKE comprises about 1.8% of SSA Swiss Advisors AG's holdings, making the stock its 19th largest position. SSA Swiss Advisors AG's holdings in NIKE were worth $3,788,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Spire Wealth Management increased its stake in NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after acquiring an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after buying an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in NIKE during the 1st quarter worth approximately $25,963,000. BROOKFIELD Corp ON grew its position in NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker's stock worth $41,808,000 after acquiring an additional 175,000 shares during the last quarter. Finally, Cadence Bank grew its position in NIKE by 10.0% during the 1st quarter. Cadence Bank now owns 83,002 shares of the footwear maker's stock worth $5,269,000 after acquiring an additional 7,574 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

NYSE:NKE opened at $69.15 on Friday. The stock has a 50-day simple moving average of $72.38 and a two-hundred day simple moving average of $67.78. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The firm has a market capitalization of $102.22 billion, a PE ratio of 35.46, a P/E/G ratio of 2.57 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. NIKE's revenue for the quarter was up 1.0% on a year-over-year basis. Analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE's payout ratio is currently 82.05%.

Insider Activity

In related news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company's stock, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NKE. Wall Street Zen upgraded NIKE from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Zacks Research raised NIKE from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Barclays set a $70.00 price objective on NIKE and gave the company a "positive" rating in a research note on Wednesday, October 1st. Argus upgraded NIKE to a "buy" rating in a research note on Sunday, July 6th. Finally, UBS Group set a $71.00 price target on NIKE and gave the stock a "neutral" rating in a research note on Friday, September 19th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, NIKE has a consensus rating of "Moderate Buy" and an average price target of $82.21.

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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