Brown Financial Advisors Acquires New Shares in NIKE, Inc. (NYSE:NKE)

Brown Financial Advisors bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the 2nd quarter, HoldingsChannel reports. The firm bought 7,225 shares of the footwear maker’s stock, valued at approximately $545,000.

Other institutional investors have also added to or reduced their stakes in the company. Annapolis Financial Services LLC boosted its stake in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares in the last quarter. True Wealth Design LLC boosted its position in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of NIKE in the 4th quarter valued at $33,000. Core Wealth Advisors Inc. raised its position in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares in the last quarter. Finally, Pineridge Advisors LLC purchased a new stake in shares of NIKE during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were 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 owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on NKE shares. Morgan Stanley boosted their target price on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Truist Financial reduced their price objective on shares of NIKE from $85.00 to $83.00 and set a “hold” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday. StockNews.com downgraded NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Finally, KeyCorp reissued a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average price target of $96.04.

NIKE Trading Down 6.8 %

Shares of NYSE:NKE opened at $83.10 on Thursday. The company has a market capitalization of $125.43 billion, a PE ratio of 22.28, a PEG ratio of 2.30 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The business has a 50 day moving average of $80.50 and a two-hundred day moving average of $86.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the business posted $0.94 EPS. The business’s revenue was down 10.4% compared to the same quarter last year. As a group, analysts forecast that NIKE, Inc. will post 3.04 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

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.