Texas Capital Bank Wealth Management Services Inc Has $6.61 Million Holdings in NIKE, Inc. $NKE

Key Points

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Texas Capital Bank Wealth Management Services Inc lifted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 28.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,192 shares of the footwear maker's stock after buying an additional 23,072 shares during the period. Texas Capital Bank Wealth Management Services Inc's holdings in NIKE were worth $6,614,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of NIKE by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock worth $1,332,331,000 after purchasing an additional 620,214 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of NIKE by 8.8% in the fourth quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock worth $1,111,625,000 after purchasing an additional 1,183,641 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NYSE NKE opened at $77.43 on Tuesday. The firm's 50-day moving average price is $71.36 and its 200-day moving average price is $67.56. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The firm has a market capitalization of $114.36 billion, a P/E ratio of 35.85, a P/E/G ratio of 2.80 and a beta of 1.27. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

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 for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. The business's quarterly revenue was down 11.9% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio is currently 74.07%.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction dated 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 sale, the chairman owned 744,988 shares in the company, valued at $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 available at this link. 0.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on NKE. Truist Financial reduced their price objective on shares of NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Tuesday, June 24th. Morgan Stanley boosted their price objective on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. Argus raised shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. Citigroup boosted their price objective on shares of NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, June 27th. Finally, Williams Trading reduced their price objective on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, NIKE presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

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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