Brookstone Capital Management Grows Stock Position in NIKE, Inc. $NKE

Brookstone Capital Management grew its position in NIKE, Inc. (NYSE:NKE) by 15.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 151,152 shares of the footwear maker’s stock after acquiring an additional 20,557 shares during the quarter. Brookstone Capital Management’s holdings in NIKE were worth $10,738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stone House Investment Management LLC purchased a new position in shares of NIKE in the first quarter valued at approximately $25,000. Mascoma Wealth Management LLC purchased a new position in shares of NIKE in the second quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC lifted its position in shares of NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 362 shares in the last quarter. Saudi Central Bank purchased a new position in shares of NIKE in the first quarter valued at approximately $30,000. Finally, Matrix Trust Co lifted 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 acquiring an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on 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 directly owned 744,988 shares of the company’s stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NKE shares. BTIG Research assumed coverage on NIKE in a research report on Tuesday, October 14th. They issued a “buy” rating and a $100.00 target price on the stock. Stifel Nicolaus set a $68.00 price objective on NIKE and gave the stock a “hold” rating in a research report on Wednesday, October 1st. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Royal Bank Of Canada reiterated an “outperform” rating on shares of NIKE in a research report on Friday, October 10th. Finally, Piper Sandler set a $84.00 price objective on NIKE and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $82.21.

NIKE Price Performance

NKE stock opened at $69.03 on Thursday. The business has a fifty day moving average of $72.67 and a two-hundred day moving average of $67.57. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The stock has a market cap of $102.03 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. As a group, research analysts anticipate 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. Stockholders of record on Tuesday, September 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. NIKE’s payout ratio is presently 82.05%.

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.