Jacobson & Schmitt Advisors LLC Has $6.29 Million Stock Position in NIKE, Inc. $NKE

Jacobson & Schmitt Advisors LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,496 shares of the footwear maker’s stock after selling 2,190 shares during the quarter. Jacobson & Schmitt Advisors LLC’s holdings in NIKE were worth $6,287,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Banco Santander S.A. increased its stake in NIKE by 28.3% in the second quarter. Banco Santander S.A. now owns 221,117 shares of the footwear maker’s stock valued at $15,708,000 after acquiring an additional 48,764 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after buying an additional 5,601 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of NIKE in the first quarter worth about $25,963,000. BROOKFIELD Corp ON increased its stake in shares of NIKE by 36.2% in the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after buying an additional 175,000 shares during the period. Finally, Cadence Bank lifted its stake in shares of NIKE by 10.0% during the first quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock valued at $5,269,000 after acquiring an additional 7,574 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

Shares of NKE opened at $61.18 on Wednesday. The stock has a 50 day simple moving average of $70.61 and a 200 day simple moving average of $68.50. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The firm has a market capitalization of $90.43 billion, a PE ratio of 31.37, a P/E/G ratio of 2.41 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 earnings per share for the quarter, beating 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 firm had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. Sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, September 2nd. NIKE’s payout ratio is 82.05%.

Insider Activity

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

Wall Street Analyst Weigh In

NKE has been the topic of a number of research reports. Zacks Research upgraded shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and increased their price objective for the company from $62.00 to $85.00 in a report on Wednesday, September 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $78.00 target price on shares of NIKE in a report on Wednesday, October 1st. Royal Bank Of Canada reissued an “outperform” rating on shares of NIKE in a research note on Friday, October 10th. Finally, Stifel Nicolaus set a $68.00 price objective on NIKE and gave the stock a “hold” rating in a research note on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.21.

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.