Holderness Investments Co. Buys 1,207 Shares of NIKE, Inc. (NYSE:NKE)

Holderness Investments Co. lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 7.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 16,637 shares of the footwear maker’s stock after acquiring an additional 1,207 shares during the period. Holderness Investments Co.’s holdings in NIKE were worth $1,254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC lifted its stake in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares during the last quarter. True Wealth Design LLC increased its position in shares of NIKE by 106.4% during 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 purchased a new position in shares of NIKE during the 4th quarter valued at about $33,000. Core Wealth Advisors Inc. lifted its position in NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. purchased a new stake in NIKE in the fourth quarter worth approximately $36,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Robert W. Baird lifted their price target on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday. Truist Financial increased their target price on shares of NIKE from $81.00 to $85.00 and gave the company a “hold” rating in a report on Friday. Bank of America lowered their price target on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Wells Fargo & Company raised their price objective on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $83.00 price objective (down previously from $116.00) on shares of NIKE in a report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.15.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

NIKE Price Performance

Shares of NKE stock opened at $86.52 on Friday. The business’s fifty day moving average is $78.11 and its 200 day moving average is $87.06. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The stock has a market cap of $130.59 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the prior year, the firm earned $0.66 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. Research analysts expect that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.71%. NIKE’s payout ratio is 39.68%.

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.