SteelPeak Wealth LLC Buys 19,256 Shares of NIKE, Inc. (NYSE:NKE)

SteelPeak Wealth LLC grew its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 300.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,667 shares of the footwear maker's stock after acquiring an additional 19,256 shares during the quarter. SteelPeak Wealth LLC's holdings in NIKE were worth $1,633,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Elgethun Capital Management increased its holdings in shares of NIKE by 13.7% during the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after acquiring an additional 149 shares in the last quarter. AlTi Global Inc. increased its holdings in NIKE by 0.4% in the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock worth $2,813,000 after buying an additional 150 shares in the last quarter. Cohen & Steers Inc. increased its holdings in NIKE by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock worth $240,000 after buying an additional 160 shares in the last quarter. Banco de Sabadell S.A increased its holdings in NIKE by 1.2% in the 4th quarter. Banco de Sabadell S.A now owns 15,966 shares of the footwear maker's stock worth $1,208,000 after buying an additional 188 shares in the last quarter. Finally, Aaron Wealth Advisors LLC increased its holdings in NIKE by 4.3% in the 1st quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock worth $296,000 after buying an additional 192 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

Shares of NIKE stock opened at $72.66 on Friday. The stock's fifty day moving average is $64.06 and its two-hundred day moving average is $67.40. The company has a market capitalization of $107.47 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a 52 week low of $52.28 and a 52 week 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 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. NIKE's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 EPS. As a group, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Monday, June 2nd. NIKE's payout ratio is 74.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NKE shares. Berenberg Bank started coverage on NIKE in a report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price objective for the company. Citigroup lifted their price objective on NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. The Goldman Sachs Group lifted their price objective on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Wall Street Zen downgraded NIKE from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Finally, UBS Group assumed coverage on NIKE in a report on Sunday, July 6th. They issued a "buy" rating for the company. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $77.15.

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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