Raab & Moskowitz Asset Management LLC Increases Stake in NIKE, Inc. $NKE

Raab & Moskowitz Asset Management LLC raised its position in shares of NIKE, Inc. (NYSE:NKE) by 4.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,315 shares of the footwear maker’s stock after purchasing an additional 974 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in NIKE were worth $1,353,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rip Road Capital Partners LP grew its holdings in shares of NIKE by 24.9% during the first quarter. Rip Road Capital Partners LP now owns 38,143 shares of the footwear maker’s stock valued at $2,421,000 after buying an additional 7,600 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in NIKE by 25.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 285,137 shares of the footwear maker’s stock valued at $18,100,000 after acquiring an additional 57,960 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in NIKE during the 1st quarter valued at $34,039,000. DoubleLine ETF Adviser LP purchased a new stake in NIKE during the 1st quarter valued at $1,756,000. Finally, Bwcp LP increased its holdings in shares of NIKE by 6.0% in the 1st quarter. Bwcp LP now owns 297,891 shares of the footwear maker’s stock worth $18,910,000 after purchasing an additional 16,849 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on NKE shares. UBS Group began coverage on NIKE in a research report on Sunday, July 6th. They set a “buy” rating on the stock. Evercore ISI reduced their price target on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, June 24th. Telsey Advisory Group reissued a “market perform” rating and set a $70.00 price objective on shares of NIKE in a report on Friday, June 27th. Piper Sandler raised their target price on shares of NIKE from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, June 27th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $77.00 to $71.00 and set a “buy” rating for the company in a research report on Friday, June 20th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $78.22.

NIKE Stock Down 1.9%

Shares of NKE stock opened at $73.91 on Friday. 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 $109.16 billion, a P/E ratio of 34.22, a P/E/G ratio of 2.69 and a beta of 1.24. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The company has a 50 day simple moving average of $75.48 and a two-hundred day simple moving average of $67.91.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping 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 business had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter last year, the company posted $0.99 EPS. The company’s revenue was down 11.9% compared to the same quarter last year. On average, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. NIKE’s dividend payout ratio is presently 74.07%.

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.