Talon Private Wealth LLC Takes Position in NIKE, Inc. $NKE

Talon Private Wealth LLC purchased a new stake in NIKE, Inc. (NYSE:NKE) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,280 shares of the footwear maker’s stock, valued at approximately $701,000.

Other hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC raised its position in shares of NIKE by 10.6% in the first quarter. Lazard Asset Management LLC now owns 2,073,621 shares of the footwear maker’s stock valued at $109,529,000 after buying an additional 197,901 shares in the last quarter. Delta Global Management LP acquired a new stake in NIKE during the first quarter worth approximately $1,965,000. Lombard Odier Asset Management Switzerland SA grew its position in NIKE by 22.9% during the first quarter. Lombard Odier Asset Management Switzerland SA now owns 119,503 shares of the footwear maker’s stock worth $6,312,000 after buying an additional 22,300 shares in the last quarter. Lombard Odier Asset Management USA Corp bought a new position in NIKE during the 1st quarter worth $320,000. Finally, Aristotle Atlantic Partners LLC bought a new position in NIKE during the 1st quarter worth $211,000. 64.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NKE has been the subject of several analyst reports. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of NIKE in a report on Wednesday, July 1st. Citigroup restated a “neutral” rating on shares of NIKE in a research report on Wednesday, July 22nd. Telsey Advisory Group set a $47.00 price target on NIKE and gave the company a “market perform” rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. cut their price objective on shares of NIKE from $52.00 to $47.00 and set a “neutral” rating for the company in a research report on Monday, June 29th. Finally, BTIG Research reissued a “buy” rating and issued a $55.00 target price on shares of NIKE in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.74.

Insider Transactions at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the transaction, the executive vice president owned 53,133 shares of the company’s stock, valued at $2,453,681.94. This represents a 24.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.10% of the stock is currently owned by corporate insiders.

NIKE Trading Up 0.4%

Shares of NKE opened at $43.22 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. NIKE, Inc. has a 52-week low of $40.00 and a 52-week high of $80.17. The firm has a market cap of $64.12 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.91 and a beta of 1.12. The business’s fifty day moving average is $43.66 and its 200-day moving average is $50.59.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same period in the prior year, the company earned $0.14 EPS. NIKE’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities analysts anticipate that NIKE, Inc. will post 1.74 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.8%. NIKE’s payout ratio is 78.47%.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).