SG Americas Securities LLC Has $69.74 Million Stake in NIKE, Inc. $NKE

SG Americas Securities LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 14.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,320,388 shares of the footwear maker’s stock after purchasing an additional 167,301 shares during the period. SG Americas Securities LLC’s holdings in NIKE were worth $69,743,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of NIKE during the first quarter worth $311,000. United Bank boosted its position in shares of NIKE by 11.3% in the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock valued at $1,212,000 after acquiring an additional 1,736 shares during the period. NewEdge Advisors LLC boosted its position in shares of NIKE by 0.3% in the second quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock valued at $4,558,000 after acquiring an additional 197 shares during the period. Finally, CIBC Asset Management Inc grew its stake in shares of NIKE by 6.5% in the second quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock valued at $13,588,000 after acquiring an additional 11,646 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price target (down from $60.00) on shares of NIKE in a research report on Friday, April 10th. Berenberg Bank reissued a “neutral” rating on shares of NIKE in a report on Wednesday, May 6th. Zacks Research lowered shares of NIKE from a “hold” rating to a “strong sell” rating in a research report on Monday, June 1st. CICC Research cut shares of NIKE from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $69.00 to $58.00 in a report on Monday, April 6th. Finally, Stifel Nicolaus cut their price target on NIKE from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Wednesday, April 1st. Fifteen investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.89.

NIKE Price Performance

NKE stock opened at $43.22 on Tuesday. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 12 month low of $41.35 and a 12 month high of $80.17. The firm has a market cap of $64.00 billion, a P/E ratio of 28.62, a P/E/G ratio of 1.96 and a beta of 1.12. The company’s 50-day moving average price is $44.38 and its two-hundred day moving average price is $54.56.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 EPS. On average, analysts anticipate that NIKE, Inc. will post 1.49 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, June 1st. NIKE’s payout ratio is currently 108.61%.

Insider Activity

In other NIKE news, CEO Elliott Hill purchased 23,660 shares of the stock in a transaction dated Monday, April 13th. The stock was bought at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the acquisition, the chief executive officer owned 265,247 shares of the company’s stock, valued at approximately $11,211,990.69. This represents a 9.79% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy D. Cook purchased 25,000 shares of the stock in a transaction dated Friday, April 10th. The shares were acquired at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the acquisition, the director directly owned 130,480 shares in the company, valued at $5,536,266.40. This represents a 23.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 64,441 shares of company stock valued at $2,734,204. Corporate insiders own 0.80% of the company’s stock.

About NIKE

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).