Prosperity Consulting Group LLC Buys 379 Shares of NIKE, Inc. (NYSE:NKE)

Prosperity Consulting Group LLC raised its position in shares of NIKE, Inc. (NYSE:NKE) by 12.9% during the second quarter, HoldingsChannel reports. The fund owned 3,309 shares of the footwear maker’s stock after acquiring an additional 379 shares during the quarter. Prosperity Consulting Group LLC’s holdings in NIKE were worth $249,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Beta Wealth Group Inc. grew its holdings in shares of NIKE by 2.3% during the 4th quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock worth $489,000 after purchasing an additional 101 shares during the period. Kampmann Melissa S. boosted its stake in NIKE by 0.8% during the fourth quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock worth $1,634,000 after buying an additional 115 shares during the period. Ascent Wealth Partners LLC increased its position in shares of NIKE by 0.4% during the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after acquiring an additional 115 shares during the last quarter. Condor Capital Management raised its stake in shares of NIKE by 0.4% in the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after acquiring an additional 116 shares during the period. Finally, Bell Investment Advisors Inc lifted its holdings in shares of NIKE by 4.7% in the 4th quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock worth $283,000 after acquiring an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on NKE. Bank of America cut their target price on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $79.00 price objective (down previously from $114.00) on shares of NIKE in a report on Friday, June 28th. JPMorgan Chase & Co. restated a “neutral” rating and set a $83.00 target price (down from $116.00) on shares of NIKE in a report on Friday, June 28th. HSBC cut their price target on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Finally, Truist Financial lowered their price objective on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $95.59.

NIKE Stock Up 0.8 %

NKE opened at $79.01 on Monday. The stock has a market capitalization of $118.46 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The business’s 50-day simple moving average is $77.23 and its 200-day simple moving average is $87.64.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. Analysts anticipate that NIKE, Inc. will post 3.06 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which is available through this link. In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by company insiders.

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.