Western Wealth Management LLC Raises Stock Holdings in NIKE, Inc. $NKE

Western Wealth Management LLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 98.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,030 shares of the footwear maker’s stock after purchasing an additional 16,383 shares during the quarter. Western Wealth Management LLC’s holdings in NIKE were worth $1,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new stake in shares of NIKE in the 1st quarter worth $25,000. Cornerstone Financial Management LLC purchased a new stake in NIKE in the fourth quarter valued at approximately $26,000. Sankala Group LLC acquired a new stake in shares of NIKE in the fourth quarter worth $26,000. Meeder Asset Management Inc. grew its position in NIKE by 108.4% during the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock worth $29,000 after purchasing an additional 285 shares during the period. Finally, J.Safra Asset Management Corp acquired a new stake in NIKE during the fourth quarter worth about $29,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction dated 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 owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This trade represents a 24.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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. Company insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $41.86 on Friday. The company has a fifty day simple moving average of $43.56 and a two-hundred day simple moving average of $50.36. 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, Inc. has a 52 week low of $40.00 and a 52 week high of $80.17. The company has a market cap of $62.10 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 1.85 and a beta of 1.12.

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

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were paid a $0.41 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.9%. NIKE’s dividend payout ratio (DPR) is currently 78.47%.

Analysts Set New Price Targets

A number of research analysts have weighed in on NKE shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of NIKE from $43.00 to $45.00 and gave the company a “hold” rating in a report on Friday, July 17th. Robert W. Baird restated an “outperform” rating and issued a $70.00 price objective on shares of NIKE in a report on Wednesday, July 1st. BNP Paribas Exane restated an “underperform” rating on shares of NIKE in a report on Wednesday, July 22nd. HSBC cut shares of NIKE from a “buy” rating to a “hold” rating and lowered their price target for the company from $90.00 to $48.00 in a research report on Monday, April 13th. Finally, Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $53.74.

NIKE 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).