Procyon Advisors LLC Buys 1,535 Shares of NIKE, Inc. (NYSE:NKE)

Procyon Advisors LLC lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,176 shares of the footwear maker’s stock after buying an additional 1,535 shares during the period. Procyon Advisors LLC’s holdings in NIKE were worth $1,979,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Magnus Financial Group LLC grew its stake in shares of NIKE by 4.5% in the 1st quarter. Magnus Financial Group LLC now owns 15,870 shares of the footwear maker’s stock worth $1,007,000 after acquiring an additional 690 shares in the last quarter. Intellectus Partners LLC boosted its holdings in NIKE by 4.9% during the first quarter. Intellectus Partners LLC now owns 13,070 shares of the footwear maker’s stock worth $835,000 after purchasing an additional 605 shares during the last quarter. Curat Global LLC bought a new stake in NIKE in the 1st quarter worth about $119,000. AMI Investment Management Inc. purchased a new stake in NIKE in the 1st quarter valued at about $1,466,000. Finally, Diligent Investors LLC lifted its position in shares of NIKE by 26.6% during the 1st quarter. Diligent Investors LLC now owns 4,759 shares of the footwear maker’s stock worth $302,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NIKE stock opened at $62.82 on Friday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $92.92 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. The firm’s 50 day simple moving average is $58.86 and its 200 day simple moving average is $69.22.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is 53.16%.

Analyst Ratings Changes

NKE has been the subject of several recent analyst reports. Williams Trading reduced their target price on NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 21st. Piper Sandler reduced their price objective on NIKE from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Telsey Advisory Group lowered their target price on NIKE from $80.00 to $70.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 6th. Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, Morgan Stanley decreased their price objective on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.26.

Insider Buying and Selling

In related news, Director Robert Holmes Swan bought 8,600 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

NIKE 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.