SOL Capital Management CO Acquires 875 Shares of NIKE, Inc. (NYSE:NKE)

SOL Capital Management CO boosted its holdings in NIKE, Inc. (NYSE:NKE) by 14.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,946 shares of the footwear maker’s stock after acquiring an additional 875 shares during the quarter. SOL Capital Management CO’s holdings in NIKE were worth $441,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Heck Capital Advisors LLC bought a new stake in NIKE during the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA grew its stake in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares in the last quarter. Hopwood Financial Services Inc. purchased a new stake in shares of NIKE in the fourth quarter valued at about $30,000. EnRich Financial Partners LLC lifted its position in shares of NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 273 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE boosted its holdings in NIKE by 95.1% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $62.71 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $94.74. The firm has a market cap of $92.75 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.23 and a beta of 1.21. The business has a 50 day moving average price of $60.31 and a 200-day moving average price of $67.63.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 9.43% and a return on equity of 32.18%. NIKE’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. Equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.55%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is currently 53.16%.

Analyst Ratings Changes

Several research firms have commented on NKE. Barclays decreased their price objective on shares of NIKE from $60.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 18th. Citigroup decreased their price target on NIKE from $72.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Evercore ISI dropped their price target on NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $77.00 to $71.00 and set a “buy” rating for the company in a research note on Friday, June 20th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $70.00 target price on shares of NIKE in a research note on Tuesday, June 17th. Sixteen investment 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. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $77.59.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan bought 8,600 shares of the firm’s stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

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.