Tritonpoint Wealth LLC Has $331,000 Stock Position in NIKE, Inc. $NKE

Tritonpoint Wealth LLC decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 25.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,634 shares of the footwear maker’s stock after selling 1,550 shares during the quarter. Tritonpoint Wealth LLC’s holdings in NIKE were worth $331,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Caldwell Sutter Capital Inc. raised its stake in NIKE by 6.3% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after acquiring an additional 142 shares during the period. Westmount Partners LLC raised its stake in NIKE by 2.9% in the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock valued at $367,000 after acquiring an additional 146 shares during the period. Matrix Trust Co raised its stake in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares during the period. RB Capital Management LLC raised its stake in NIKE by 0.4% in the 2nd quarter. RB Capital Management LLC now owns 46,327 shares of the footwear maker’s stock valued at $3,291,000 after acquiring an additional 171 shares during the period. Finally, Breakwater Capital Group raised its stake in NIKE by 4.8% in the 2nd quarter. Breakwater Capital Group now owns 3,873 shares of the footwear maker’s stock valued at $275,000 after acquiring an additional 177 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

NKE opened at $69.31 on Monday. The firm has a market cap of $102.36 billion, a P/E ratio of 32.09, a price-to-earnings-growth ratio of 2.53 and a beta of 1.24. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.26. 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 business’s fifty day moving average is $74.99 and its 200-day moving average is $67.26.

NIKE (NYSE:NKE) last released its earnings results 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 company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.NIKE’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. NIKE’s dividend payout ratio is currently 74.07%.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and increased their price target for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. Hsbc Global Res raised NIKE from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. Telsey Advisory Group upped their price objective on NIKE from $70.00 to $75.00 and gave the company a “market perform” rating in a report on Tuesday, September 23rd. Morgan Stanley upped their price objective on NIKE from $64.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, September 23rd. Finally, Evercore ISI decreased their price objective on NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday, June 24th. Three equities research 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.62.

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.