SteelPeak Wealth LLC Acquires 76,064 Shares of NIKE, Inc. $NKE

Key Points

• SteelPeak Wealth LLC increased its stake in NIKE, Inc. by 296.3% in Q2, acquiring an additional 76,064 shares, bringing total holdings to 101,731 shares valued at approximately $7.27 million.
• NIKE's recent quarterly earnings beat expectations with an EPS of $0.49, exceeding the consensus estimate of $0.27, and revenue increased by 1.0% year-on-year.
• The company's stock currently has a target price consensus of $81.57, with ratings ranging from "Strong Buy" to "Sell" from various analysts.

SteelPeak Wealth LLC boosted its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 296.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,731 shares of the footwear maker's stock after buying an additional 76,064 shares during the quarter. SteelPeak Wealth LLC's holdings in NIKE were worth $7,267,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NKE. Caldwell Sutter Capital Inc. increased 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 valued at $170,000 after purchasing an additional 142 shares during the period. Westmount Partners LLC increased 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 valued at $367,000 after purchasing an additional 146 shares during the period. HB Wealth Management LLC increased its position in NIKE by 0.3% during the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker's stock valued at $3,695,000 after purchasing an additional 147 shares during the period. Matrix Trust Co increased its position in NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock valued at $31,000 after purchasing an additional 153 shares during the period. Finally, Summit Financial Strategies Inc. increased its position in NIKE by 3.8% during the 2nd quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker's stock valued at $303,000 after purchasing an additional 155 shares during the period. Institutional investors own 64.25% of the company's stock.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The shares were 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 owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.80% of the company's stock.

NIKE Stock Performance

NYSE:NKE opened at $71.25 on Tuesday. The company has a fifty day moving average of $74.46 and a 200-day moving average of $67.26. The firm has a market capitalization of $105.23 billion, a P/E ratio of 36.54, a P/E/G ratio of 2.64 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76.

NIKE (NYSE:NKE - Get Free Report) last posted 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 net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the firm posted $0.70 EPS. NIKE's revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE's dividend payout ratio (DPR) is presently 82.05%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NKE. Zacks Research raised shares of NIKE from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Stifel Nicolaus set a $68.00 target price on shares of NIKE and gave the company a "hold" rating in a research report on Wednesday, October 1st. Evercore ISI decreased their target price on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. 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, September 25th. Finally, Bank of America lifted their price objective on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $81.57.

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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