Pines Wealth Management LLC Buys 1,576 Shares of NIKE, Inc. $NKE

Pines Wealth Management LLC boosted its stake in NIKE, Inc. (NYSE:NKE) by 29.6% in the second quarter, Holdings Channel reports. The firm owned 6,906 shares of the footwear maker’s stock after purchasing an additional 1,576 shares during the quarter. Pines Wealth Management LLC’s holdings in NIKE were worth $528,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stone House Investment Management LLC acquired a new position in NIKE during the first quarter valued at approximately $25,000. Heck Capital Advisors LLC bought a new position in shares of NIKE in the 4th quarter valued at $28,000. Saudi Central Bank acquired a new position in shares of NIKE during the 1st quarter worth $30,000. Roxbury Financial LLC lifted its position in shares of NIKE by 52.1% during the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock worth $37,000 after buying an additional 201 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of NIKE during the 1st quarter worth $37,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on NKE shares. Piper Sandler lifted their target price on NIKE from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, June 27th. Needham & Company LLC lifted their price target on shares of NIKE from $66.00 to $78.00 and gave the company a “buy” rating in a report on Friday, June 27th. Truist Financial lowered their price objective on shares of NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, June 24th. Royal Bank Of Canada dropped their price objective on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 20th. Finally, DZ Bank cut shares of NIKE from a “buy” rating to a “hold” rating and set a $76.00 target price on the stock. in a research note on Thursday, July 10th. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.89.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the sale, the chairman owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.80% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $72.72 on Wednesday. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $107.40 billion, a P/E ratio of 33.67, a price-to-earnings-growth ratio of 2.65 and a beta of 1.24. The firm’s fifty day simple moving average is $75.30 and its two-hundred day simple moving average is $67.63. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business’s revenue was down 11.9% compared to the same quarter last year. During the same period last year, the business posted $0.99 EPS. As a group, analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE’s payout ratio is 74.07%.

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.