Pacific Capital Partners Ltd Purchases New Shares in NIKE, Inc. (NYSE:NKE)

Pacific Capital Partners Ltd purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 31,031 shares of the footwear maker’s stock, valued at approximately $1,970,000. NIKE accounts for 1.2% of Pacific Capital Partners Ltd’s holdings, making the stock its 24th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elgethun Capital Management lifted its stake in shares of NIKE by 13.7% in the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock worth $94,000 after buying an additional 149 shares in the last quarter. AlTi Global Inc. lifted its stake in shares of NIKE by 0.4% in the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker’s stock worth $2,813,000 after buying an additional 150 shares in the last quarter. Cohen & Steers Inc. lifted its stake in shares of NIKE by 5.3% in the fourth quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker’s stock worth $240,000 after buying an additional 160 shares in the last quarter. Peregrine Asset Advisers Inc. lifted its stake in shares of NIKE by 1.2% in the first quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker’s stock worth $934,000 after buying an additional 181 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its stake in shares of NIKE by 4.3% in the first quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker’s stock worth $296,000 after buying an additional 192 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of a number of analyst reports. Needham & Company LLC lifted their target price on shares of NIKE from $66.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Williams Trading reduced their target price on shares of NIKE from $93.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, April 21st. Barclays lifted their target price on shares of NIKE from $53.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, June 27th. Berenberg Bank initiated coverage on shares of NIKE in a research note on Tuesday, April 15th. They set a “hold” rating and a $58.00 target price on the stock. Finally, Robert W. Baird lifted their target price on shares of NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.22.

NIKE Trading Down 1.1%

Shares of NIKE stock opened at $78.40 on Wednesday. The company has a fifty day simple moving average of $67.47 and a 200-day simple moving average of $67.42. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The stock has a market cap of $115.79 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 2.91 and a beta of 1.25. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. NIKE’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.04%. NIKE’s dividend payout ratio (DPR) is 74.07%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s 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 sale, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by company insiders.

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.