SWS Partners Has $2.56 Million Stake in NIKE, Inc. $NKE

Key Points

• SWS Partners increased its stake in NIKE, Inc. by 31.7%, owning 35,822 shares worth approximately $2.56 million as of the latest filing.
• Analysts have recently upgraded their ratings on NIKE, with three giving it a Strong Buy rating and a consensus target price of $79.62.
• NIKE announced a quarterly dividend of $0.40 per share, reflecting an annualized yield of 2.3%, scheduled for payment on October 1st.

SWS Partners raised its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 31.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 35,822 shares of the footwear maker's stock after purchasing an additional 8,630 shares during the period. SWS Partners' holdings in NIKE were worth $2,556,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in NIKE by 3.9% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 22,141 shares of the footwear maker's stock valued at $1,573,000 after purchasing an additional 835 shares during the last quarter. GC Wealth Management RIA LLC boosted its stake in shares of NIKE by 18.6% in the 2nd quarter. GC Wealth Management RIA LLC now owns 12,746 shares of the footwear maker's stock worth $905,000 after buying an additional 1,996 shares during the last quarter. First County Bank CT purchased a new position in shares of NIKE in the 2nd quarter worth approximately $252,000. Independence Bank of Kentucky boosted its stake in shares of NIKE by 42.1% in the 2nd quarter. Independence Bank of Kentucky now owns 4,061 shares of the footwear maker's stock worth $288,000 after buying an additional 1,203 shares during the last quarter. Finally, Addenda Capital Inc. boosted its stake in shares of NIKE by 0.7% in the 2nd quarter. Addenda Capital Inc. now owns 194,390 shares of the footwear maker's stock worth $13,881,000 after buying an additional 1,408 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NKE. HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research note on Friday, June 27th. Piper Sandler boosted their target price on NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. Zacks Research upgraded NIKE from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Finally, DZ Bank downgraded NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a research note on Thursday, July 10th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and a consensus target price of $79.62.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction 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 $56,566,938.84. The trade was a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.80% of the stock is owned by insiders.

NIKE Trading Up 0.1%

Shares of NKE stock opened at $69.31 on Monday. The company's fifty day simple moving average is $74.99 and its two-hundred day simple moving average is $67.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.26. The stock has a market capitalization of $102.36 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 2.53 and a beta of 1.24.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. The business's revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. NIKE's payout ratio is presently 74.07%.

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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