U.S. Capital Wealth Advisors LLC Raises Stock Holdings in NIKE, Inc. $NKE

Key Points

• U.S. Capital Wealth Advisors LLC has increased its stake in NIKE, Inc. by 36.5% during the second quarter, now holding 175,706 shares valued at approximately $12.48 million.
• NIKE reported a year-over-year revenue decline of 11.9%, with a quarterly revenue of $11.10 billion and an EPS of $0.14, surpassing analyst expectations.
• The firm announced a quarterly dividend of $0.40 per share, resulting in an annualized yield of 2.3%, with a payout ratio of 74.07%.

U.S. Capital Wealth Advisors LLC boosted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 36.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 175,706 shares of the footwear maker's stock after acquiring an additional 47,006 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in NIKE were worth $12,482,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Caldwell Sutter Capital Inc. raised its holdings in shares of NIKE by 6.3% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock worth $170,000 after purchasing an additional 142 shares during the period. Westmount Partners LLC grew its stake in NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock valued at $367,000 after purchasing an additional 146 shares in the last quarter. Matrix Trust Co increased its stake in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after buying an additional 153 shares during the last quarter. RB Capital Management LLC lifted its position in shares of NIKE by 0.4% during the second quarter. RB Capital Management LLC now owns 46,327 shares of the footwear maker's stock worth $3,291,000 after purchasing an additional 171 shares during the last quarter. Finally, Breakwater Capital Group grew its position in shares of NIKE by 4.8% in the 2nd quarter. Breakwater Capital Group now owns 3,873 shares of the footwear maker's stock worth $275,000 after acquiring an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman 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 Securities & Exchange Commission, which is available at this link. 0.80% of the stock is owned by company insiders.

NIKE Stock Down 1.7%

NKE opened at $70.88 on Monday. The business has a 50 day moving average of $75.19 and a 200-day moving average of $67.43. 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, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The stock has a market capitalization of $104.68 billion, a price-to-earnings ratio of 32.81, a P/E/G ratio of 2.57 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 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.NIKE's revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 earnings per share. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current 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 paid a $0.40 dividend. 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%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NKE shares. Piper Sandler upped their price objective on NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. HSBC raised NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a report on Friday, June 27th. Telsey Advisory Group restated a "market perform" rating and set a $70.00 price objective on shares of NIKE in a research report on Friday, June 27th. The Goldman Sachs Group raised their price objective on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, UBS Group set a $71.00 target price on shares of NIKE and gave the stock a "neutral" rating in a research report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $79.04.

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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