Hamilton Wealth LLC Purchases New Shares in NIKE, Inc. $NKE

Hamilton Wealth LLC acquired a new stake in shares of NIKE, Inc. (NYSE:NKE) during the first quarter, HoldingsChannel reports. The fund acquired 17,016 shares of the footwear maker’s stock, valued at approximately $899,000.

Several other institutional investors have also added to or reduced their stakes in NKE. Cornerstone Financial Management LLC purchased a new stake in shares of NIKE in the 4th quarter worth about $26,000. Sankala Group LLC purchased a new position in shares of NIKE during the fourth quarter valued at about $26,000. J.Safra Asset Management Corp bought a new position in NIKE in the fourth quarter worth about $29,000. Kemnay Advisory Services Inc. bought a new position in NIKE in the fourth quarter worth about $30,000. Finally, Scarborough Advisors LLC purchased a new stake in NIKE in the first quarter worth about $25,000. 64.25% of the stock is currently owned by institutional investors.

Insider Activity at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the sale, the executive vice president directly owned 53,133 shares of the company’s stock, valued at $2,453,681.94. This trade represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NKE shares. Rothschild & Co Redburn cut their price objective on NIKE from $45.00 to $37.00 and set a “sell” rating on the stock in a research report on Friday, July 17th. China Renaissance dropped their price target on NIKE from $50.30 to $47.30 and set a “hold” rating on the stock in a research report on Thursday, July 2nd. BTIG Research reaffirmed a “buy” rating and issued a $55.00 price target on shares of NIKE in a research note on Wednesday, July 1st. JPMorgan Chase & Co. decreased their price objective on NIKE from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Monday, June 29th. Finally, Truist Financial lowered their price objective on NIKE from $69.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, NIKE has a consensus rating of “Hold” and a consensus price target of $53.74.

NIKE Price Performance

Shares of NYSE NKE opened at $43.22 on Thursday. NIKE, Inc. has a twelve month low of $40.00 and a twelve month high of $80.17. The firm has a market cap of $64.12 billion, a P/E ratio of 20.68, a PEG ratio of 1.91 and a beta of 1.12. The company has a 50 day moving average of $43.66 and a 200 day moving average of $50.59. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The company’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the business posted $0.14 EPS. As a group, research analysts expect that NIKE, Inc. will post 1.74 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, June 1st. NIKE’s dividend payout ratio is presently 78.47%.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).