Steward Partners Investment Advisory LLC Has $6.71 Million Stock Holdings in NIKE, Inc. $NKE

Key Points

• Steward Partners Investment Advisory LLC increased its stake in NIKE by 11.6%, owning 105,765 shares worth approximately $6.71 million after purchasing an additional 10,982 shares.
• NIKE's quarterly earnings report showed $0.14 earnings per share, surpassing expectations, although revenue decreased by 11.9% year-over-year.
• The company announced a quarterly dividend of $0.40 per share, with an annualized yield of 2.1% and a payout ratio of 74.07%.

Steward Partners Investment Advisory LLC boosted its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 11.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 105,765 shares of the footwear maker's stock after purchasing an additional 10,982 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in NIKE were worth $6,714,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. AR Asset Management Inc. grew its holdings in NIKE by 3.3% in the first quarter. AR Asset Management Inc. now owns 78,770 shares of the footwear maker's stock worth $5,000,000 after purchasing an additional 2,500 shares during the period. Alliance Wealth Advisors LLC UT grew its holdings in NIKE by 12.3% in the first quarter. Alliance Wealth Advisors LLC UT now owns 10,275 shares of the footwear maker's stock worth $652,000 after purchasing an additional 1,128 shares during the period. Tocqueville Asset Management L.P. grew its holdings in NIKE by 4.2% in the first quarter. Tocqueville Asset Management L.P. now owns 272,552 shares of the footwear maker's stock worth $17,302,000 after purchasing an additional 10,976 shares during the period. Gen Wealth Partners Inc grew its holdings in shares of NIKE by 17.4% during the first quarter. Gen Wealth Partners Inc now owns 20,355 shares of the footwear maker's stock valued at $1,292,000 after buying an additional 3,014 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of NIKE by 35.6% during the first quarter. American Century Companies Inc. now owns 1,229,745 shares of the footwear maker's stock valued at $78,064,000 after buying an additional 322,866 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NYSE NKE opened at $77.43 on Tuesday. The company's 50 day moving average is $71.36 and its 200-day moving average is $67.56. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The firm has a market cap of $114.36 billion, a P/E ratio of 35.85, a price-to-earnings-growth ratio of 2.80 and a beta of 1.27.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (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 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 quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Telsey Advisory Group reiterated a "market perform" rating and set a $70.00 price objective on shares of NIKE in a report on Friday, June 27th. Robert W. Baird lifted their price objective on shares of NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a report on Friday, June 27th. Williams Trading reduced their price objective on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 21st. UBS Group assumed coverage on shares of NIKE in a report on Sunday, July 6th. They set a "buy" rating for the company. 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 report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.80% of the company's stock.

NIKE 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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