Elyxium Wealth LLC purchased a new stake in NIKE, Inc. (NYSE:NKE – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 38,976 shares of the footwear maker’s stock, valued at approximately $1,600,000.
Other hedge funds also recently made changes to their positions in the company. Cornerstone Financial Management LLC bought a new position in shares of NIKE during the 4th quarter worth about $26,000. Sankala Group LLC bought a new stake in NIKE in the fourth quarter valued at about $26,000. J.Safra Asset Management Corp bought a new stake in NIKE in the fourth quarter valued at about $29,000. Kemnay Advisory Services Inc. acquired a new position in NIKE in the fourth quarter worth about $30,000. Finally, Scarborough Advisors LLC acquired a new position in NIKE in the first quarter worth about $25,000. Institutional investors and hedge funds own 64.25% of the company’s stock.
Wall Street Analyst Weigh In
NKE has been the subject of a number of analyst reports. Berenberg Bank set a $49.00 price target on shares of NIKE and gave the stock a “hold” rating in a research note on Friday, July 3rd. Guggenheim reiterated a “buy” rating and issued a $60.00 price objective (down from $74.00) on shares of NIKE in a research note on Wednesday, July 1st. Zacks Research cut NIKE from a “hold” rating to a “strong sell” rating in a report on Monday, June 1st. Telsey Advisory Group set a $47.00 target price on NIKE and gave the stock a “market perform” rating in a research report on Wednesday, July 1st. Finally, The Goldman Sachs Group decreased their price target on NIKE from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eighteen have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $53.53.
NIKE Price Performance
NYSE:NKE opened at $40.73 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. The firm has a market cap of $60.42 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11. NIKE, Inc. has a 12 month low of $40.00 and a 12 month high of $80.17. The company’s 50-day moving average price is $42.90 and its two-hundred day moving average price is $48.73.
NIKE (NYSE:NKE – Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.14 earnings per share. On average, equities analysts anticipate that NIKE, Inc. will post 1.74 EPS for the current fiscal year.
NIKE Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.41 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.0%. NIKE’s dividend payout ratio is 78.47%.
Insiders Place Their Bets
In other NIKE news, insider Amy Montagne sold 4,867 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $42.05, for a total value of $204,657.35. Following the transaction, the insider owned 57,436 shares of the company’s stock, valued at approximately $2,415,183.80. The trade was a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the transaction, the executive vice president directly owned 53,133 shares in the company, valued at approximately $2,453,681.94. This represents a 24.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 26,142 shares of company stock valued at $1,169,380 in the last 90 days. Insiders own 1.10% of the company’s stock.
About NIKE
Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.
The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).
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