NIKE, Inc. (NYSE:NKE) Shares Acquired by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 0.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 40,170 shares of the footwear maker’s stock after acquiring an additional 174 shares during the period. SYSTM Wealth Solutions LLC’s holdings in NIKE were worth $3,035,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NKE. Annapolis Financial Services LLC raised its stake in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC raised its stake in NIKE by 106.4% in 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 acquired a new position in NIKE in the 4th quarter valued at about $33,000. Core Wealth Advisors Inc. raised its stake in NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. acquired a new position in NIKE in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a filing 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 stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NKE has been the subject of several analyst reports. Wedbush cut their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Stifel Nicolaus cut their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Barclays downgraded shares of NIKE from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $109.00 to $80.00 in a research note on Friday, June 28th. Wells Fargo & Company lowered their price target on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a report on Friday, June 28th. Finally, UBS Group restated a “neutral” rating and issued a $78.00 price target on shares of NIKE in a report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.59.

NIKE Stock Up 1.1 %

NYSE NKE opened at $80.64 on Wednesday. The stock has a market cap of $121.71 billion, a PE ratio of 21.62, a P/E/G ratio of 2.08 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The business has a 50 day moving average price of $77.52 and a two-hundred day moving average price of $87.32. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. As a group, sell-side analysts predict that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is presently 39.68%.

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.