NIKE, Inc. $NKE Stock Position Raised by Belpointe Asset Management LLC

Belpointe Asset Management LLC increased its holdings in NIKE, Inc. (NYSE:NKE) by 43.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,024 shares of the footwear maker’s stock after acquiring an additional 1,838 shares during the period. Belpointe Asset Management LLC’s holdings in NIKE were worth $382,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after acquiring an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in NIKE by 10.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock worth $14,447,000 after purchasing an additional 17,888 shares during the last quarter. Triumph Capital Management purchased a new stake in shares of NIKE during the 4th quarter worth about $215,000. Quantinno Capital Management LP raised its stake in shares of NIKE by 21.2% during the 4th quarter. Quantinno Capital Management LP now owns 57,453 shares of the footwear maker’s stock worth $4,348,000 after purchasing an additional 10,031 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its holdings in shares of NIKE by 11.9% during the 4th quarter. Rafferty Asset Management LLC now owns 110,688 shares of the footwear maker’s stock valued at $8,376,000 after buying an additional 11,773 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 1.6%

Shares of NYSE NKE opened at $73.12 on Monday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The firm’s 50-day moving average is $75.40 and its 200-day moving average is $67.63. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $107.98 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.65 and a beta of 1.24.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same period in the prior year, the business posted $0.99 earnings per share. NIKE’s revenue was down 11.9% compared to the same quarter last year. Equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is currently 74.07%.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares of the company’s stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NKE has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Argus raised shares of NIKE to a “buy” rating in a research note on Sunday, July 6th. Sanford C. Bernstein reiterated an “outperform” rating on shares of NIKE in a report on Monday, August 18th. TD Cowen raised shares of NIKE from a “hold” rating to a “buy” rating and increased their target price for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Finally, Bank of America raised their target price on NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $78.67.

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.