Cardinal Point Capital Management ULC Acquires 1,590 Shares of NIKE, Inc. $NKE

Cardinal Point Capital Management ULC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,332 shares of the footwear maker’s stock after acquiring an additional 1,590 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in NIKE were worth $2,368,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new position in NIKE in the 1st quarter valued at about $25,000. Mascoma Wealth Management LLC purchased a new stake in NIKE in the 2nd quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC increased its stake in NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after buying an additional 362 shares during the last quarter. Saudi Central Bank purchased a new stake in NIKE in the 1st quarter valued at about $30,000. Finally, Matrix Trust Co increased its stake in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on NKE. Piper Sandler set a $84.00 price objective on shares of NIKE and gave the company an “overweight” rating in a research note on Wednesday, October 1st. DZ Bank upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, October 1st. BTIG Research started coverage on shares of NIKE in a research note on Tuesday, October 14th. They set a “buy” rating and a $100.00 price target for the company. Stifel Nicolaus set a $68.00 price target on shares of NIKE and gave the stock a “hold” rating in a research note on Wednesday, October 1st. Finally, Citigroup upgraded shares of NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.21.

NIKE Stock Up 0.9%

NIKE stock opened at $69.68 on Friday. The firm has a 50 day simple moving average of $72.54 and a 200 day simple moving average of $67.67. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The firm has a market capitalization of $103.00 billion, a price-to-earnings ratio of 35.73, a P/E/G ratio of 2.55 and a beta of 1.29.

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

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

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.