Cambridge Investment Research Advisors Inc. boosted its stake in shares of NIKE, Inc. (NYSE:NKE – Get Rating) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,625 shares of the footwear maker’s stock after buying an additional 1,394 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in NIKE were worth $11,101,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC lifted its holdings in shares of NIKE by 7.6% in the first quarter. Evergreen Capital Management LLC now owns 104,831 shares of the footwear maker’s stock valued at $14,106,000 after purchasing an additional 7,415 shares in the last quarter. CWM LLC lifted its holdings in shares of NIKE by 12.5% in the first quarter. CWM LLC now owns 17,836 shares of the footwear maker’s stock valued at $2,400,000 after purchasing an additional 1,986 shares in the last quarter. WealthPLAN Partners LLC lifted its holdings in shares of NIKE by 4.8% in the first quarter. WealthPLAN Partners LLC now owns 2,747 shares of the footwear maker’s stock valued at $343,000 after purchasing an additional 126 shares in the last quarter. Executive Wealth Management LLC lifted its stake in shares of NIKE by 4.2% during the first quarter. Executive Wealth Management LLC now owns 11,937 shares of the footwear maker’s stock valued at $1,606,000 after buying an additional 476 shares during the period. Finally, Evercore Wealth Management LLC lifted its stake in shares of NIKE by 0.3% during the first quarter. Evercore Wealth Management LLC now owns 592,823 shares of the footwear maker’s stock valued at $79,770,000 after buying an additional 1,753 shares during the period. 64.19% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at NIKE
In related news, EVP Monique S. Matheson sold 19,500 shares of the firm’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $103.45, for a total transaction of $2,017,275.00. Following the completion of the sale, the executive vice president now directly owns 80,355 shares of the company’s stock, valued at approximately $8,312,724.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other NIKE news, EVP Monique S. Matheson sold 19,500 shares of the stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $103.45, for a total transaction of $2,017,275.00. Following the transaction, the executive vice president now directly owns 80,355 shares in the company, valued at approximately $8,312,724.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Monique S. Matheson sold 30,000 shares of the stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $107.19, for a total transaction of $3,215,700.00. Following the transaction, the executive vice president now owns 60,330 shares in the company, valued at $6,466,772.70. The disclosure for this sale can be found here. In the last three months, insiders sold 59,561 shares of company stock valued at $6,374,094. Corporate insiders own 0.40% of the company’s stock.
NIKE Price Performance
NIKE stock opened at $98.55 on Friday. The firm has a fifty day moving average of $109.72 and a 200-day moving average of $115.81. The firm has a market capitalization of $154.58 billion, a P/E ratio of 26.21, a PEG ratio of 2.17 and a beta of 1.03. NIKE, Inc. has a 52-week low of $97.83 and a 52-week high of $179.10. The company has a quick ratio of 1.84, a current ratio of 2.63 and a debt-to-equity ratio of 0.58.
NIKE (NYSE:NKE – Get Rating) last released its quarterly earnings results on Monday, June 27th. The footwear maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $12.10 billion. NIKE had a net margin of 12.94% and a return on equity of 40.74%. The business’s revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $0.93 EPS. As a group, analysts predict that NIKE, Inc. will post 3.78 EPS for the current year.
NIKE declared that its board has approved a share buyback plan on Monday, June 27th that authorizes the company to buyback $18.00 billion in outstanding shares. This buyback authorization authorizes the footwear maker to purchase up to 11% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
NIKE Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be issued a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Friday, September 2nd. NIKE’s payout ratio is 32.45%.
Analyst Ratings Changes
Several equities analysts recently issued reports on NKE shares. Wells Fargo & Company reduced their price objective on shares of NIKE from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 28th. Piper Sandler started coverage on shares of NIKE in a research note on Wednesday, August 3rd. They set a “neutral” rating and a $115.00 price objective on the stock. Jefferies Financial Group set a $155.00 price objective on shares of NIKE in a research note on Tuesday, June 28th. Royal Bank of Canada started coverage on shares of NIKE in a research note on Thursday. They set an “outperform” rating and a $125.00 price objective on the stock. Finally, Cowen reduced their price objective on shares of NIKE from $127.00 to $124.00 and set an “outperform” rating on the stock in a research note on Monday, September 12th. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.77.
NIKE Company Profile
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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men’s, women’s, and kids athletic footwear, apparel, equipment, and accessories 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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