Sowell Financial Services LLC Acquires 1,921 Shares of NIKE, Inc. (NYSE:NKE)

Sowell Financial Services LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 37,237 shares of the footwear maker’s stock after buying an additional 1,921 shares during the quarter. Sowell Financial Services LLC’s holdings in NIKE were worth $2,364,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock valued at $14,447,000 after acquiring an additional 17,888 shares during the period. Allworth Financial LP grew its position in NIKE by 96.8% during the 4th quarter. Allworth Financial LP now owns 24,458 shares of the footwear maker’s stock worth $1,811,000 after acquiring an additional 12,027 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in NIKE during the 4th quarter worth approximately $4,342,000. Finally, Valmark Advisers Inc. increased its stake in NIKE by 71.5% in the 4th quarter. Valmark Advisers Inc. now owns 25,804 shares of the footwear maker’s stock worth $1,953,000 after purchasing an additional 10,757 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $61.90 on Tuesday. The company has a market capitalization of $91.55 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The company’s 50-day moving average is $59.56 and its 200 day moving average is $68.48.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion for 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%. The business’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders 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 yield of 2.58%. NIKE’s dividend payout ratio is 53.16%.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of analyst reports. The Goldman Sachs Group dropped their price objective on NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Cfra Research raised shares of NIKE to a “moderate buy” rating in a report on Friday, March 21st. Piper Sandler decreased their price objective on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Berenberg Bank assumed coverage on shares of NIKE in a research note on Tuesday, April 15th. They set a “hold” rating and a $58.00 price objective for the company. Finally, Jefferies Financial Group reissued a “buy” rating on shares of NIKE in a research note on Friday, May 23rd. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $80.26.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.