Angeles Investment Advisors LLC Acquires Shares of 4,207 NIKE, Inc. (NYSE:NKE)

Angeles Investment Advisors LLC bought a new stake in NIKE, Inc. (NYSE:NKE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,207 shares of the footwear maker’s stock, valued at approximately $319,000.

Several other institutional investors have also recently made changes to their positions in NKE. Beta Wealth Group Inc. lifted its stake in NIKE by 2.3% in the fourth 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 last quarter. Kampmann Melissa S. lifted its stake in shares of NIKE by 0.8% during the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock worth $1,634,000 after acquiring an additional 115 shares during the last quarter. Ascent Wealth Partners LLC lifted its stake in shares of NIKE by 0.4% during the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after acquiring an additional 115 shares during the last quarter. Condor Capital Management boosted its holdings in NIKE by 0.4% during 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 grew its position in NIKE by 4.7% in the 4th quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after acquiring an additional 118 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NKE. Jefferies Financial Group decreased their target price on NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Piper Sandler restated a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research note on Friday, August 23rd. Bank of America decreased their price target on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $95.59.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction 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 NIKE stock in a transaction on Friday, June 28th. The shares were bought at an average price of $77.02 per share, with a total value of $226,515.82. Following 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. Company insiders own 0.50% of the company’s stock.

NIKE Stock Performance

NKE opened at $79.82 on Tuesday. The firm’s 50-day moving average price is $77.36 and its 200-day moving average price is $87.47. The company has a market cap of $120.48 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. 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, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.66 earnings per share. As a group, equities analysts anticipate that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.85%. NIKE’s dividend payout ratio is currently 39.68%.

NIKE 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.