Custos Family Office LLC Acquires New Shares in NIKE, Inc. $NKE

Custos Family Office LLC acquired a new stake in NIKE, Inc. (NYSE:NKE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,800 shares of the footwear maker’s stock, valued at approximately $625,000.

A number of other large investors have also recently added to or reduced their stakes in NKE. Spire Wealth Management lifted its stake in NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after purchasing an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after purchasing an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in NIKE during the first quarter worth $25,963,000. BROOKFIELD Corp ON lifted its stake in NIKE by 36.2% during the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after purchasing an additional 175,000 shares in the last quarter. Finally, Olstein Capital Management L.P. lifted its stake in NIKE by 42.2% during the first quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker’s stock worth $5,777,000 after purchasing an additional 27,000 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NKE stock opened at $74.59 on Friday. The stock’s 50-day moving average is $74.71 and its two-hundred day moving average is $67.32. The firm has a market cap of $110.16 billion, a price-to-earnings ratio of 38.25, a PEG ratio of 2.79 and a beta of 1.29. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $84.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.50 and a current ratio of 2.19.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

Analyst Ratings Changes

NKE has been the topic of a number of recent research reports. Bank of America upped their price objective on NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. Cowen raised NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, September 10th. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and upped their price objective for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $77.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, June 20th. Finally, DZ Bank raised NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $81.57.

Insider Buying and Selling

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