Sierra Capital LLC Acquires New Shares in NIKE, Inc. (NYSE:NKE)

Sierra Capital LLC bought a new position in NIKE, Inc. (NYSE:NKE) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 2,905 shares of the footwear maker’s stock, valued at approximately $257,000.

Other large investors have also added to or reduced their stakes in the company. Annapolis Financial Services LLC raised its position in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares in the last quarter. Transcendent Capital Group LLC boosted its position in shares of NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares during the last quarter. VitalStone Financial LLC raised its stake in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC lifted its position in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in shares of NIKE during the 2nd quarter valued at $44,000. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.50% of the company’s stock.

NIKE Stock Performance

Shares of NYSE:NKE traded up $0.06 during trading on Tuesday, hitting $81.54. The company’s stock had a trading volume of 3,455,138 shares, compared to its average volume of 11,640,188. The company has a 50-day moving average of $82.77 and a 200-day moving average of $85.19. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a market cap of $123.07 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, sell-side analysts expect that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Analyst Ratings Changes

Several brokerages have issued reports on NKE. Wedbush dropped their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and raised their price objective for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. TD Cowen raised their price target on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Finally, Sanford C. Bernstein lowered their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

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.