AlTi Global Inc. Acquires 27,781 Shares of NIKE, Inc. $NKE

AlTi Global Inc. lifted its position in NIKE, Inc. (NYSE:NKE) by 445.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,024 shares of the footwear maker’s stock after buying an additional 27,781 shares during the quarter. AlTi Global Inc.’s holdings in NIKE were worth $1,797,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Main Street Financial Solutions LLC boosted its stake in NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after buying an additional 139 shares in the last quarter. Diligent Investors LLC grew its holdings in shares of NIKE by 4.3% during the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock valued at $237,000 after purchasing an additional 153 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of NIKE by 4.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock valued at $253,000 after purchasing an additional 163 shares during the last quarter. Lakeshore Capital Group Inc. raised its position in NIKE by 2.9% in the 4th quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock worth $374,000 after purchasing an additional 165 shares during the period. Finally, ANB Bank raised its position in NIKE by 0.7% in the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock worth $1,621,000 after purchasing an additional 165 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Down 0.8%

NIKE stock opened at $43.43 on Tuesday. NIKE, Inc. has a 12 month low of $40.00 and a 12 month high of $80.17. The stock has a fifty day simple moving average of $43.69 and a two-hundred day simple moving average of $51.66. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The firm has a market cap of $64.31 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 2.53 and a beta of 1.12.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.14 EPS. Equities analysts predict that NIKE, Inc. will post 1.75 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, June 1st. NIKE’s dividend payout ratio (DPR) is presently 78.47%.

Insider Activity at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president owned 53,133 shares in the company, valued at approximately $2,453,681.94. This trade represents a 24.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent research reports. China Renaissance reduced their price target on NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a research report on Thursday, April 2nd. Sanford C. Bernstein set a $72.00 price objective on NIKE and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Jefferies Financial Group dropped their price objective on NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Williams Trading decreased their target price on shares of NIKE from $80.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Finally, BTIG Research reiterated a “buy” rating and set a $55.00 price target on shares of NIKE in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $54.80.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).