Marcum Wealth LLC Grows Position in NIKE, Inc. (NYSE:NKE)

Marcum Wealth LLC boosted its stake in NIKE, Inc. (NYSE:NKE) by 9.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,065 shares of the footwear maker’s stock after buying an additional 1,003 shares during the period. Marcum Wealth LLC’s holdings in NIKE were worth $766,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP grew its position in NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of NIKE by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock valued at $1,915,110,000 after purchasing an additional 347,178 shares in the last quarter. Capital World Investors increased its stake in NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after buying an additional 2,288,627 shares during the period. Bank of New York Mellon Corp lifted its holdings in NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after buying an additional 3,121,929 shares in the last quarter. Finally, Norges Bank purchased a new position in NIKE in the 4th quarter valued at approximately $1,126,288,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $61.43 on Friday. The stock has a market cap of $90.86 billion, a P/E ratio of 18.96, a P/E/G ratio of 2.52 and a beta of 1.23. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The stock has a 50 day moving average of $59.20 and a two-hundred day moving average of $69.78. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. On average, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.60%. NIKE’s dividend payout ratio (DPR) is 53.16%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NKE shares. UBS Group cut their price objective on NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Royal Bank of Canada lowered their target price on NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 20th. Stifel Nicolaus reduced their price target on NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Jefferies Financial Group reissued a “buy” rating on shares of NIKE in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. cut their target price on shares of NIKE from $64.00 to $56.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Seventeen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.26.

About NIKE

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.