NIKE, Inc. $NKE Shares Purchased by Western Wealth Management LLC

Western Wealth Management LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 98.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 33,030 shares of the footwear maker’s stock after buying an additional 16,383 shares during the quarter. Western Wealth Management LLC’s holdings in NIKE were worth $1,745,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in NIKE by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker’s stock valued at $7,453,658,000 after purchasing an additional 1,702,342 shares in the last quarter. State Street Corp increased its position in shares of NIKE by 2.2% in the fourth quarter. State Street Corp now owns 59,315,606 shares of the footwear maker’s stock valued at $3,802,807,000 after buying an additional 1,275,494 shares in the last quarter. Capital World Investors increased its holdings in NIKE by 16.2% during the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after acquiring an additional 6,830,938 shares in the last quarter. J. Stern & Co. LLP raised its position in shares of NIKE by 49,010.4% during the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock worth $3,061,555,000 after purchasing an additional 47,956,692 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of NIKE by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker’s stock worth $1,677,251,000 after acquiring an additional 233,925 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NKE. Piper Sandler cut their price objective on shares of NIKE from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Robert W. Baird reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of NIKE in a research note on Wednesday, July 1st. BNP Paribas Exane reaffirmed an “underperform” rating on shares of NIKE in a research report on Wednesday, July 22nd. Berenberg Bank set a $49.00 price objective on shares of NIKE and gave the company a “hold” rating in a research report on Friday, July 3rd. Finally, Rothschild & Co Redburn lowered their target price on NIKE from $45.00 to $37.00 and set a “sell” rating for the company in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $53.74.

NIKE Price Performance

NKE opened at $41.86 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 company’s 50-day moving average price is $43.56 and its 200 day moving average price is $50.36. The firm has a market cap of $62.10 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 1.85 and a beta of 1.12. NIKE, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $80.17.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. During the same quarter in the previous year, the firm posted $0.14 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, sell-side analysts expect that NIKE, Inc. will post 1.74 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, June 1st. NIKE’s payout ratio is 78.47%.

Insider Transactions at NIKE

In other NIKE news, 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 transaction of $803,439.64. Following the completion of the transaction, the executive vice president owned 53,133 shares in the company, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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. Company insiders own 1.10% of the company’s stock.

NIKE Company Profile

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).