GC Wealth Management RIA LLC Boosts Stock Position in NIKE, Inc. $NKE

GC Wealth Management RIA LLC boosted its position in NIKE, Inc. (NYSE:NKE) by 18.6% in the second quarter, HoldingsChannel.com reports. The firm owned 12,746 shares of the footwear maker’s stock after acquiring an additional 1,996 shares during the period. GC Wealth Management RIA LLC’s holdings in NIKE were worth $905,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NKE. Spire Wealth Management raised its stake in shares of NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after acquiring an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after acquiring an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in NIKE in the first quarter worth $25,963,000. BROOKFIELD Corp ON increased its position in shares of NIKE by 36.2% during the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after purchasing an additional 175,000 shares in the last quarter. Finally, Olstein Capital Management L.P. increased its position in shares of NIKE by 42.2% during the first quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker’s stock worth $5,777,000 after purchasing an additional 27,000 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the sale, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. HSBC raised NIKE from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Friday, June 27th. Royal Bank Of Canada raised NIKE from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $76.00 to $90.00 in a report on Thursday, September 18th. Jefferies Financial Group restated a “buy” rating and set a $115.00 price target on shares of NIKE in a research note on Monday. The Goldman Sachs Group set a $85.00 price objective on shares of NIKE and gave the company a “buy” rating in a report on Thursday. Finally, Barclays increased their price objective on shares of NIKE from $64.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, September 18th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $79.62.

NIKE Trading Up 0.4%

Shares of NIKE stock opened at $69.57 on Tuesday. The stock has a market cap of $102.75 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 2.53 and a beta of 1.24. The firm has a fifty day moving average price of $74.90 and a 200 day moving average price of $67.25. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $89.75. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

NIKE Dividend Announcement

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

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.