Mascoma Wealth Management LLC Acquires New Shares in NIKE, Inc. $NKE

Mascoma Wealth Management LLC acquired a new stake in NIKE, Inc. (NYSE:NKE) in the second quarter, Holdings Channel.com reports. The firm acquired 360 shares of the footwear maker’s stock, valued at approximately $26,000.

A number of other hedge funds have also bought and sold shares of the business. Caldwell Sutter Capital Inc. grew its stake in NIKE by 6.3% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after buying an additional 142 shares in the last quarter. Westmount Partners LLC boosted its stake in shares of NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after acquiring an additional 146 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of NIKE by 0.3% during the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock worth $3,695,000 after acquiring an additional 147 shares during the last quarter. Matrix Trust Co boosted its stake in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares during the last quarter. Finally, Summit Financial Strategies Inc. boosted its stake in shares of NIKE by 3.8% during the 2nd quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker’s stock worth $303,000 after acquiring an additional 155 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NKE has been the topic of several analyst reports. Truist Financial reiterated a “buy” rating and set a $85.00 price target on shares of NIKE in a research note on Wednesday. Argus upgraded shares of NIKE to a “buy” rating in a research report on Sunday, July 6th. Royal Bank Of Canada upgraded shares of NIKE from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $76.00 to $90.00 in a research report on Thursday, September 18th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of NIKE from $77.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, June 20th. Finally, Zacks Research upgraded shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $81.57.

NIKE Stock Performance

NKE opened at $72.01 on Friday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76. The stock has a market capitalization of $106.34 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 2.65 and a beta of 1.29. The company has a fifty day moving average of $74.62 and a 200 day moving average of $67.27. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.50 and a current ratio of 2.19.

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

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.80% of the stock is owned by insiders.

NIKE Company 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.