Freestone Capital Holdings LLC Buys 5,551 Shares of NIKE, Inc. $NKE

Freestone Capital Holdings LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 520,714 shares of the footwear maker’s stock after acquiring an additional 5,551 shares during the quarter. NIKE makes up about 1.2% of Freestone Capital Holdings LLC’s holdings, making the stock its 16th largest position. Freestone Capital Holdings LLC’s holdings in NIKE were worth $36,992,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stone House Investment Management LLC bought a new stake in shares of NIKE in the first quarter valued at $25,000. Mascoma Wealth Management LLC bought a new stake in NIKE in the 2nd quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC boosted its position in NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the period. Saudi Central Bank bought a new position in NIKE during the first quarter worth about $30,000. Finally, 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 purchasing an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This trade represents a 12.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE 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 completion of the transaction, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on NKE. Piper Sandler set a $84.00 price target on shares of NIKE and gave the company an “overweight” rating in a research note on Wednesday, October 1st. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. Citigroup upgraded NIKE from a “neutral” rating to a “positive” rating in a research report on Friday, September 19th. JPMorgan Chase & Co. boosted their price objective on NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Finally, Jefferies Financial Group restated a “buy” rating and issued a $115.00 target price on shares of NIKE in a research note on Monday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.21.

NIKE Price Performance

NKE opened at $64.59 on Monday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $95.48 billion, a P/E ratio of 33.12, a PEG ratio of 2.41 and a beta of 1.29. The stock has a 50-day moving average price of $71.29 and a 200-day moving average price of $68.41. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the business earned $0.70 earnings per share. Equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. NIKE’s payout ratio is currently 82.05%.

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.