Boltwood Capital Management Acquires 575 Shares of NIKE, Inc. (NYSE:NKE)

Boltwood Capital Management lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 20.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,372 shares of the footwear maker’s stock after acquiring an additional 575 shares during the period. Boltwood Capital Management’s holdings in NIKE were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in NKE. Iron Horse Wealth Management LLC lifted its stake in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Planned Solutions Inc. bought a new position in NIKE in the 4th quarter valued at approximately $29,000. True Wealth Design LLC lifted its stake in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in NIKE in the 4th quarter valued at approximately $33,000. Finally, Core Wealth Advisors Inc. lifted its stake in NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock valued at $19,946,333 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

NIKE Stock Down 0.2 %

NKE opened at $94.78 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The company’s 50-day moving average is $93.43 and its 200 day moving average is $100.17. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $123.39. The firm has a market capitalization of $143.06 billion, a P/E ratio of 27.88, a PEG ratio of 1.77 and a beta of 1.05.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. Research analysts expect that NIKE, Inc. will post 3.76 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s payout ratio is currently 43.53%.

Analysts Set New Price Targets

Several equities analysts recently commented on NKE shares. Truist Financial reissued a “hold” rating and issued a $111.00 price objective on shares of NIKE in a research note on Tuesday, March 19th. Sanford C. Bernstein decreased their price target on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Citigroup decreased their price target on shares of NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Wedbush restated an “outperform” rating and issued a $115.00 price target on shares of NIKE in a research report on Tuesday, April 30th. Finally, Evercore ISI decreased their price target on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $115.52.

NIKE 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.