United Asset Strategies Inc. Buys 3,348 Shares of NIKE, Inc. $NKE

Key Points

• United Asset Strategies Inc. increased its stake in NIKE, Inc. by 23.1%, owning a total of 17,846 shares valued at approximately $1.13 million after purchasing an additional 3,348 shares in the first quarter.
• NIKE's recent quarterly earnings reported $0.14 earnings per share, exceeding estimates, with revenue of $11.10 billion, though this represented an 11.9% decline year-over-year.
• The company announced a $0.40 quarterly dividend payable on October 1st, reflecting a 2.1% yield and a payout ratio of 74.07%.

United Asset Strategies Inc. grew its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 23.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,846 shares of the footwear maker's stock after buying an additional 3,348 shares during the quarter. United Asset Strategies Inc.'s holdings in NIKE were worth $1,133,000 at the end of the most recent quarter.

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

NIKE Stock Performance

NIKE stock opened at $76.10 on Friday. The stock's 50 day simple moving average is $72.15 and its two-hundred day simple moving average is $67.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock has a market cap of $112.39 billion, a price-to-earnings ratio of 35.23, a PEG ratio of 2.77 and a beta of 1.27. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last posted 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. The business had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business's revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 EPS. As a group, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NKE. Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. Needham & Company LLC raised their target price on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Barclays raised their target price on NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. The Goldman Sachs Group raised their target price on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, Wall Street Zen cut NIKE from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.22.

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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