Orion Portfolio Solutions LLC raised its holdings in shares of Nike Inc (NYSE:NKE) by 19.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,366 shares of the footwear maker’s stock after purchasing an additional 880 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Nike were worth $526,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in NKE. Glassman Wealth Services lifted its stake in shares of Nike by 6.6% during the 2nd quarter. Glassman Wealth Services now owns 1,626 shares of the footwear maker’s stock worth $159,000 after buying an additional 100 shares during the last quarter. Adirondack Trust Co. grew its position in shares of Nike by 1.9% in the second quarter. Adirondack Trust Co. now owns 5,320 shares of the footwear maker’s stock valued at $519,000 after purchasing an additional 100 shares during the last quarter. Capital Analysts LLC increased its stake in shares of Nike by 8.0% during the second quarter. Capital Analysts LLC now owns 1,410 shares of the footwear maker’s stock worth $138,000 after purchasing an additional 104 shares during the period. Lafayette Investments Inc. lifted its holdings in Nike by 1.1% during the 2nd quarter. Lafayette Investments Inc. now owns 10,067 shares of the footwear maker’s stock worth $987,000 after purchasing an additional 108 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. boosted its stake in Nike by 6.4% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,846 shares of the footwear maker’s stock valued at $181,000 after purchasing an additional 111 shares during the period. Hedge funds and other institutional investors own 64.20% of the company’s stock.
In other news, insider Heidi O’neill sold 22,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $115.06, for a total transaction of $2,531,320.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Andrew Campion sold 56,313 shares of the stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $98.56, for a total transaction of $5,550,209.28. The disclosure for this sale can be found here. Insiders have sold a total of 143,356 shares of company stock worth $14,962,435 over the last 90 days. 3.80% of the stock is currently owned by corporate insiders.
Shares of NKE traded down $0.37 during mid-day trading on Wednesday, hitting $118.90. The stock had a trading volume of 273,648 shares, compared to its average volume of 7,756,601. Nike Inc has a 52 week low of $60.00 and a 52 week high of $120.48. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.48 and a quick ratio of 1.59. The business has a fifty day moving average price of $107.26 and a 200-day moving average price of $94.68. The firm has a market cap of $186.06 billion, a P/E ratio of 75.49, a PEG ratio of 3.13 and a beta of 0.83.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.53). The firm had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $7.26 billion. Nike had a return on equity of 32.95% and a net margin of 6.79%. The company’s revenue was down 38.0% compared to the same quarter last year. During the same period last year, the business posted $0.62 EPS. As a group, research analysts expect that Nike Inc will post 2.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, August 28th. Nike’s dividend payout ratio (DPR) is currently 52.97%.
Several analysts have recently issued reports on the company. Telsey Advisory Group increased their target price on Nike from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, June 19th. Argus reaffirmed a “buy” rating and set a $115.00 price target on shares of Nike in a research note on Tuesday, June 30th. Piper Sandler lifted their target price on Nike from $112.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday. Goldman Sachs Group restated a “buy” rating and set a $115.00 price objective on shares of Nike in a research report on Tuesday, August 18th. Finally, Sanford C. Bernstein increased their target price on shares of Nike from $101.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, June 26th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $113.41.
Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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