Legacy Capital Group California Inc. Acquires 716 Shares of NIKE, Inc. (NYSE:NKE)

Legacy Capital Group California Inc. increased its holdings in NIKE, Inc. (NYSE:NKE) by 10.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,815 shares of the footwear maker’s stock after acquiring an additional 716 shares during the quarter. Legacy Capital Group California Inc.’s holdings in NIKE were worth $691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Brookstone Capital Management increased its position in NIKE by 17.7% during the 1st quarter. Brookstone Capital Management now owns 64,524 shares of the footwear maker’s stock valued at $6,064,000 after buying an additional 9,694 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of NIKE by 4.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 256,565 shares of the footwear maker’s stock worth $24,112,000 after purchasing an additional 11,765 shares during the last quarter. Cypress Wealth Services LLC bought a new position in NIKE in the 1st quarter worth about $203,000. Register Financial Advisors LLC purchased a new stake in NIKE during the 1st quarter valued at about $66,000. Finally, Sawyer & Company Inc increased its stake in NIKE by 0.7% during the 1st quarter. Sawyer & Company Inc now owns 44,506 shares of the footwear maker’s stock valued at $4,183,000 after purchasing an additional 313 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Down 1.2 %

NIKE stock opened at $79.05 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm’s 50 day moving average price is $82.86 and its 200-day moving average price is $85.10. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The stock has a market cap of $118.52 billion, a P/E ratio of 22.65, a PEG ratio of 1.95 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 earnings per share. On average, equities analysts predict that NIKE, Inc. will post 2.78 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is 42.41%.

Insider Buying and Selling at NIKE

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 value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NKE. Evercore ISI dropped their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft cut their target price on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Bank of America lowered their price target on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and increased their price objective for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Finally, Jefferies Financial Group upped their target price on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average target price of $96.56.

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.