Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of NIKE, Inc. (NYSE:NKE – Get Rating) by 1.9% during the 1st quarter, Holdings Channel reports. The fund owned 15,689 shares of the footwear maker’s stock after acquiring an additional 295 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in NIKE were worth $2,111,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the business. Alpha Paradigm Partners LLC acquired a new position in NIKE during the fourth quarter worth $31,000. FNY Investment Advisers LLC acquired a new position in NIKE during the first quarter worth $26,000. Antonetti Capital Management LLC raised its holdings in NIKE by 900.0% during the first quarter. Antonetti Capital Management LLC now owns 200 shares of the footwear maker’s stock worth $27,000 after buying an additional 180 shares during the last quarter. Delos Wealth Advisors LLC raised its holdings in NIKE by 90.4% during the fourth quarter. Delos Wealth Advisors LLC now owns 238 shares of the footwear maker’s stock worth $40,000 after buying an additional 113 shares during the last quarter. Finally, Rise Advisors LLC acquired a new position in NIKE during the fourth quarter worth $40,000. Institutional investors and hedge funds own 64.19% of the company’s stock.
NIKE Price Performance
Shares of NYSE:NKE opened at $108.73 on Friday. The company has a quick ratio of 1.84, a current ratio of 2.63 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $170.55 billion, a PE ratio of 28.92, a P/E/G ratio of 2.29 and a beta of 1.03. NIKE, Inc. has a twelve month low of $99.53 and a twelve month high of $179.10. The company has a 50-day moving average price of $109.53 and a two-hundred day moving average price of $117.84.
NIKE declared that its board has approved a share repurchase plan on Monday, June 27th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the footwear maker to purchase up to 11% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
NIKE Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be given a dividend of $0.305 per share. The ex-dividend date of this dividend is Friday, September 2nd. This represents a $1.22 dividend on an annualized basis and a yield of 1.12%. NIKE’s dividend payout ratio is presently 32.45%.
Insiders Place Their Bets
In other NIKE news, Director John W. Rogers, Jr. bought 10,000 shares of the business’s stock in a transaction on Thursday, June 30th. The stock was purchased at an average price of $102.96 per share, for a total transaction of $1,029,600.00. Following the completion of the transaction, the director now directly owns 25,681 shares of the company’s stock, valued at $2,644,115.76. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Monique S. Matheson sold 19,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $103.45, for a total value of $2,017,275.00. Following the completion of the transaction, the executive vice president now directly owns 80,355 shares in the company, valued at $8,312,724.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Rogers, Jr. acquired 10,000 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was purchased at an average price of $102.96 per share, with a total value of $1,029,600.00. Following the completion of the transaction, the director now directly owns 25,681 shares of the company’s stock, valued at approximately $2,644,115.76. The disclosure for this purchase can be found here. Insiders sold 68,593 shares of company stock worth $7,372,310 over the last quarter. 0.40% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on NKE shares. Citigroup upgraded shares of NIKE to a “neutral” rating in a report on Friday, August 19th. Wedbush lowered their price objective on shares of NIKE from $139.00 to $130.00 and set an “outperform” rating on the stock in a report on Tuesday, June 28th. Stifel Nicolaus lowered their target price on shares of NIKE from $135.00 to $130.00 in a report on Wednesday, July 20th. Exane BNP Paribas downgraded shares of NIKE from an “outperform” rating to a “neutral” rating and set a $118.00 target price for the company. in a report on Tuesday, August 9th. Finally, Guggenheim lowered their target price on shares of NIKE from $160.00 to $155.00 and set a “buy” rating for the company in a report on Tuesday, June 28th. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.46.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.
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