Penn Davis Mcfarland Inc. Boosts Holdings in NIKE, Inc. $NKE

Penn Davis Mcfarland Inc. grew its holdings in NIKE, Inc. (NYSE:NKE) by 0.5% during the 2nd quarter, Holdings Channel reports. The firm owned 62,066 shares of the footwear maker’s stock after buying an additional 314 shares during the period. Penn Davis Mcfarland Inc.’s holdings in NIKE were worth $4,409,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NKE. Caldwell Sutter Capital Inc. raised its holdings in shares of NIKE by 6.3% in the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after acquiring an additional 142 shares during the last quarter. Westmount Partners LLC boosted its stake in shares of NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after purchasing an additional 146 shares during the last quarter. Matrix Trust Co boosted its stake in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares during the last quarter. RB Capital Management LLC boosted its stake in shares of NIKE by 0.4% during the 2nd quarter. RB Capital Management LLC now owns 46,327 shares of the footwear maker’s stock worth $3,291,000 after purchasing an additional 171 shares during the last quarter. Finally, Breakwater Capital Group boosted its stake in shares of NIKE by 4.8% during the 2nd quarter. Breakwater Capital Group now owns 3,873 shares of the footwear maker’s stock worth $275,000 after purchasing an additional 177 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NKE stock opened at $71.21 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock’s fifty day moving average is $75.12 and its two-hundred day moving average is $67.43. The stock has a market capitalization of $105.17 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 2.58 and a beta of 1.24. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business’s revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE’s dividend payout ratio is presently 74.07%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NKE. DZ Bank downgraded NIKE from a “buy” rating to a “hold” rating and set a $76.00 price objective for the company. in a research report on Thursday, July 10th. Cowen raised shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, September 10th. The Goldman Sachs Group increased their target price on shares of NIKE from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. Piper Sandler boosted their price objective on shares of NIKE from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, June 27th. Finally, HSBC upgraded shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $79.46.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.80% 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.