Tran Capital Management L.P. Has $9.05 Million Holdings in NIKE, Inc. $NKE

Key Points

• Tran Capital Management L.P. increased its stake in NIKE, Inc. by 27.7% during the second quarter, resulting in holdings valued at approximately $9.05 million.
• NIKE's recent quarterly earnings showed a profit of $0.14 per share, exceeding expectations, with revenue of $11.10 billion despite an 11.9% year-over-year decline.
• The company announced a quarterly dividend of $0.40 per share, representing a 2.3% yield, to be paid on October 1st.

Tran Capital Management L.P. grew its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 27.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,434 shares of the footwear maker's stock after purchasing an additional 27,632 shares during the period. NIKE comprises 1.1% of Tran Capital Management L.P.'s holdings, making the stock its 26th largest holding. Tran Capital Management L.P.'s holdings in NIKE were worth $9,053,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Heck Capital Advisors LLC acquired a new position in shares of NIKE during the 4th quarter worth approximately $28,000. Stone House Investment Management LLC acquired a new stake in shares of NIKE during the 1st quarter worth approximately $25,000. Matrix Trust Co boosted its position in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after acquiring an additional 153 shares in the last quarter. Saudi Central Bank acquired a new stake in shares of NIKE during the 1st quarter worth approximately $30,000. Finally, Putney Financial Group LLC acquired a new stake in shares of NIKE during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Trading Down 1.7%

NKE opened at $70.88 on Friday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The company has a market cap of $104.68 billion, a P/E ratio of 32.81, a price-to-earnings-growth ratio of 2.57 and a beta of 1.24. The company has a fifty day moving average price of $75.19 and a two-hundred day moving average price of $67.50.

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 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 during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. The business's revenue was down 11.9% compared to the same quarter last year. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research report on Friday, June 27th. Bank of America raised their target price on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Piper Sandler raised their target price on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Royal Bank Of Canada upgraded shares of NIKE from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $76.00 to $90.00 in a research report on Thursday. Finally, JPMorgan Chase & Co. upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and raised their target price for the company from $64.00 to $93.00 in a research report on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and an average price target of $79.04.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction dated 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 completion of the sale, the chairman directly owned 744,988 shares of the company's stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.80% of the stock is currently owned by insiders.

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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