Texas Capital Bank Wealth Management Services Inc Buys 5,118 Shares of NIKE, Inc. (NYSE:NKE)

Texas Capital Bank Wealth Management Services Inc grew its stake in NIKE, Inc. (NYSE:NKE) by 7.2% in the 2nd quarter, Holdings Channel reports. The firm owned 76,682 shares of the footwear maker’s stock after purchasing an additional 5,118 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in NIKE were worth $5,780,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. Annapolis Financial Services LLC raised its stake in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares in the last quarter. True Wealth Design LLC raised its position in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Core Wealth Advisors Inc. lifted its stake 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 valued at $33,000 after purchasing an additional 241 shares during the period. Frank Rimerman Advisors LLC purchased a new position in shares of NIKE in the 4th quarter valued at approximately $33,000. Finally, Gold Investment Management Ltd. bought a new stake in shares of NIKE during the fourth quarter valued at approximately $36,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

NKE stock opened at $89.43 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a market cap of $134.98 billion, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02. The stock’s fifty day moving average price is $79.67 and its 200-day moving average price is $86.77.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same period last year, the firm posted $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts forecast that NIKE, Inc. will post 3.04 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Wall Street Analysts Forecast Growth

NKE has been the subject of several recent research reports. BMO Capital Markets lowered their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Royal Bank of Canada upped their price objective on shares of NIKE from $75.00 to $85.00 and gave the stock a “sector perform” rating in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of NIKE from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Morgan Stanley boosted their price target on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Sanford C. Bernstein reduced their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.52.

Insider Activity at NIKE

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