Xcel Wealth Management LLC Buys Shares of 4,055 NIKE, Inc. $NKE

Xcel Wealth Management LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,055 shares of the footwear maker’s stock, valued at approximately $288,000.

A number of other institutional investors have also modified their holdings of NKE. Stone House Investment Management LLC purchased a new stake in NIKE in the 1st quarter worth approximately $25,000. Heck Capital Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter worth $28,000. Saudi Central Bank acquired a new stake in shares of NIKE during the first quarter worth $30,000. Matrix Trust Co grew its position in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new position in NIKE in the second quarter valued at $35,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $71.21 on Thursday. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The stock’s fifty day moving average is $75.12 and its 200-day moving average is $67.43. 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 firm has a market capitalization of $105.17 billion, a price-to-earnings ratio of 32.97, a price-to-earnings-growth ratio of 2.58 and a beta of 1.24.

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

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE’s dividend payout ratio (DPR) is 74.07%.

Analysts Set New Price Targets

NKE has been the topic of several recent analyst reports. Robert W. Baird increased their target price on NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, June 27th. Evercore ISI decreased their target price on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of NIKE from $77.00 to $71.00 and set a “buy” rating for the company in a research report on Friday, June 20th. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Finally, Bank of America boosted their price target on NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.46.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred 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 $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is owned by corporate 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.