NIKE, Inc. (NYSE:NKE) Shares Bought by Fountainhead AM LLC

Fountainhead AM LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 6.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,547 shares of the footwear maker’s stock after acquiring an additional 426 shares during the period. Fountainhead AM LLC’s holdings in NIKE were worth $479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Carnegie Lake Advisors LLC grew its holdings in NIKE by 6.8% in the first quarter. Carnegie Lake Advisors LLC now owns 39,485 shares of the footwear maker’s stock valued at $2,507,000 after purchasing an additional 2,500 shares during the period. St. Louis Trust Co boosted its stake in shares of NIKE by 11.4% in the first quarter. St. Louis Trust Co now owns 15,167 shares of the footwear maker’s stock valued at $963,000 after purchasing an additional 1,557 shares during the period. Willner & Heller LLC boosted its stake in shares of NIKE by 16.1% in the first quarter. Willner & Heller LLC now owns 3,377 shares of the footwear maker’s stock valued at $214,000 after purchasing an additional 469 shares during the period. Private Advisor Group LLC boosted its stake in shares of NIKE by 15.9% in the first quarter. Private Advisor Group LLC now owns 95,798 shares of the footwear maker’s stock valued at $6,081,000 after purchasing an additional 13,126 shares during the period. Finally, Pavion Blue Capital LLC boosted its stake in shares of NIKE by 8.3% in the first quarter. Pavion Blue Capital LLC now owns 11,373 shares of the footwear maker’s stock valued at $722,000 after purchasing an additional 873 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Down 0.7%

Shares of NKE stock traded down $0.48 during trading hours on Friday, reaching $72.50. The company’s stock had a trading volume of 8,792,733 shares, compared to its average volume of 15,097,393. The stock has a market capitalization of $107.24 billion, a P/E ratio of 33.56, a P/E/G ratio of 2.70 and a beta of 1.25. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The firm’s fifty day simple moving average is $65.49 and its 200 day simple moving average is $67.27. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. NIKE’s revenue for the quarter was down 11.9% compared to the same quarter last year. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. NIKE’s payout ratio is 74.07%.

Wall Street Analyst Weigh In

NKE has been the topic of several recent analyst reports. Needham & Company LLC upped their price target on shares of NIKE from $66.00 to $78.00 and gave the company a “buy” rating in a report on Friday, June 27th. Argus raised shares of NIKE to a “buy” rating in a report on Sunday, July 6th. Truist Financial dropped their target price on shares of NIKE from $82.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, June 24th. BMO Capital Markets dropped their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Finally, Royal Bank Of Canada lowered their price target on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.15.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the sale, the chairman owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

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.