Vision Capital Management Inc. Boosts Stake in NIKE, Inc. (NYSE:NKE)

Vision Capital Management Inc. raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 84,657 shares of the footwear maker’s stock after acquiring an additional 2,688 shares during the period. NIKE makes up about 0.9% of Vision Capital Management Inc.’s investment portfolio, making the stock its 29th largest position. Vision Capital Management Inc.’s holdings in NIKE were worth $6,381,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Annapolis Financial Services LLC grew its position 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 buying an additional 220 shares in the last quarter. True Wealth Design LLC lifted its stake in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the last quarter. Core Wealth Advisors Inc. lifted its stake in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in NIKE during the fourth quarter worth about $33,000. Finally, Gold Investment Management Ltd. bought a new stake in NIKE during the fourth quarter worth about $36,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NKE. Evercore ISI dropped their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. The Goldman Sachs Group dropped their price target on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Piper Sandler reissued a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research note on Friday, August 23rd. TD Cowen lowered their target price on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Finally, Stifel Nicolaus lowered their target price on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Fourteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.59.

NIKE Stock Down 1.4 %

NKE stock opened at $79.50 on Tuesday. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The business’s 50 day moving average price is $76.99 and its two-hundred day moving average price is $88.38. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The company has a market capitalization of $119.20 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02.

NIKE (NYSE:NKE) last posted 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. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 EPS. As a group, analysts forecast that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.86%. NIKE’s payout ratio is currently 39.68%.

Insider Buying and Selling

In related news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by company insiders.

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.