Legacy Capital Wealth Partners LLC Acquires New Shares in NIKE, Inc. (NYSE:NKE)

Legacy Capital Wealth Partners LLC acquired a new stake in NIKE, Inc. (NYSE:NKE) in the second quarter, according to its most recent filing with the SEC. The fund acquired 4,372 shares of the footwear maker’s stock, valued at approximately $330,000.

Other hedge funds have also bought and sold shares of the company. Autumn Glory Partners LLC boosted its holdings in NIKE by 42.3% in the 2nd quarter. Autumn Glory Partners LLC now owns 22,174 shares of the footwear maker’s stock valued at $1,671,000 after purchasing an additional 6,591 shares during the period. Mcdonald Capital Investors Inc. CA boosted its holdings in NIKE by 110.3% in the 2nd quarter. Mcdonald Capital Investors Inc. CA now owns 887,743 shares of the footwear maker’s stock valued at $66,909,000 after purchasing an additional 465,646 shares during the period. Rhumbline Advisers boosted its holdings in NIKE by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 2,450,404 shares of the footwear maker’s stock valued at $184,687,000 after purchasing an additional 66,146 shares during the period. Chilton Capital Management LLC boosted its holdings in NIKE by 11.3% in the 2nd quarter. Chilton Capital Management LLC now owns 1,671 shares of the footwear maker’s stock valued at $126,000 after purchasing an additional 170 shares during the period. Finally, Klingenstein Fields & Co. LP boosted its holdings in NIKE by 3.1% in the 2nd quarter. Klingenstein Fields & Co. LP now owns 177,642 shares of the footwear maker’s stock valued at $13,389,000 after purchasing an additional 5,354 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

NIKE Price Performance

Shares of NYSE NKE opened at $81.02 on Thursday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company’s 50-day moving average is $77.10 and its 200 day moving average is $89.00. The stock has a market capitalization of $122.29 billion, a P/E ratio of 21.72, a P/E/G ratio of 2.19 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts expect that NIKE, Inc. will post 3.1 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Analyst Ratings Changes

A number of analysts have recently issued reports on NKE shares. Robert W. Baird dropped their price objective on shares of NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Truist Financial dropped their price objective on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a report on Friday, June 28th. Evercore ISI dropped their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Bank of America dropped their price objective on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Stifel Nicolaus dropped their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.59.

NIKE 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.