SWS Partners Purchases Shares of 27,192 NIKE, Inc. $NKE

Key Points

• SWS Partners acquired a new stake in NIKE, purchasing 27,192 shares valued at approximately $1.726 million, according to a recent SEC filing.
• NIKE reported a quarterly earnings per share (EPS) of $0.14, exceeding analysts' expectations, although its revenue of $11.10 billion showed an 11.9% decline year-over-year.
• The company announced a quarterly dividend of $0.40 per share, representing a 2.2% dividend yield, set to be paid on October 1st.

SWS Partners purchased a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,192 shares of the footwear maker's stock, valued at approximately $1,726,000.

Other hedge funds have also modified their holdings of the company. Spire Wealth Management lifted its position in shares of NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after buying an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of NIKE by 0.6% during the first 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 during the last quarter. OMERS ADMINISTRATION Corp lifted its position in shares of NIKE by 20.2% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 52,370 shares of the footwear maker's stock valued at $3,963,000 after buying an additional 8,792 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in NIKE by 75.1% in the fourth quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker's stock worth $40,835,000 after acquiring an additional 231,417 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in NIKE in the first quarter worth about $25,963,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Up 0.8%

Shares of NYSE:NKE opened at $74.22 on Thursday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The stock has a market cap of $109.61 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 2.67 and a beta of 1.24. 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 business has a 50-day moving average price of $75.50 and a 200-day moving average price of $67.91.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The firm had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. During the same period last year, the business posted $0.99 earnings per share. The company's revenue for the quarter was down 11.9% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is presently 74.07%.

Analysts Set New Price Targets

Several brokerages have weighed in on NKE. Royal Bank Of Canada lowered their price target on NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a report on Tuesday, May 20th. Bank of America raised their price target on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Evercore ISI lowered their price target on NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. Argus raised NIKE to a "buy" rating in a report on Sunday, July 6th. Finally, TD Cowen raised NIKE from a "hold" rating to a "buy" rating and raised their price target for the stock from $62.00 to $85.00 in a report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, NIKE has an average rating of "Moderate Buy" and an average target price of $78.67.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.80% of the stock is currently owned by insiders.

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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