Exchange Capital Management Inc. Boosts Stock Position in NIKE, Inc. (NYSE:NKE)

Exchange Capital Management Inc. boosted its holdings in NIKE, Inc. (NYSE:NKE) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,304 shares of the footwear maker’s stock after purchasing an additional 282 shares during the period. Exchange Capital Management Inc.’s holdings in NIKE were worth $1,720,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sherbrooke Park Advisers LLC purchased a new position in shares of NIKE during the 3rd quarter valued at $432,000. SRS Capital Advisors Inc. lifted its holdings in NIKE by 5.0% during the 3rd quarter. SRS Capital Advisors Inc. now owns 4,107 shares of the footwear maker’s stock worth $393,000 after purchasing an additional 196 shares in the last quarter. Insigneo Advisory Services LLC lifted its holdings in NIKE by 12.1% during the 3rd quarter. Insigneo Advisory Services LLC now owns 10,551 shares of the footwear maker’s stock worth $1,012,000 after purchasing an additional 1,140 shares in the last quarter. Truist Financial Corp lifted its holdings in NIKE by 21.7% during the 3rd quarter. Truist Financial Corp now owns 705,830 shares of the footwear maker’s stock worth $67,491,000 after purchasing an additional 126,074 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its holdings in NIKE by 32.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 9,133 shares of the footwear maker’s stock worth $873,000 after purchasing an additional 2,229 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders sold 213,660 shares of company stock worth $19,946,333 in the last ninety days. 0.50% of the stock is owned by company insiders.

NIKE Price Performance

Shares of NIKE stock traded down $0.73 during trading on Tuesday, hitting $76.10. 17,666,959 shares of the stock traded hands, compared to its average volume of 10,631,605. The stock has a market cap of $114.86 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.43 and a beta of 1.01. NIKE, Inc. has a 52 week low of $74.29 and a 52 week high of $123.39. The firm’s fifty day moving average is $93.28 and its 200-day moving average is $98.85. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. Research analysts expect that NIKE, Inc. will post 3.9 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. reissued a “neutral” rating and set a $83.00 price objective (down previously from $116.00) on shares of NIKE in a report on Friday. Guggenheim dropped their price objective on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday. Citigroup dropped their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a report on Friday. Barclays cut NIKE from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $109.00 to $80.00 in a report on Friday. Finally, Telsey Advisory Group dropped their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, NIKE has a consensus rating of “Hold” and a consensus target price of $98.04.

About NIKE

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.