Legacy Financial Strategies LLC Acquires New Holdings in NIKE, Inc. (NYSE:NKE)

Legacy Financial Strategies LLC bought a new stake in NIKE, Inc. (NYSE:NKE) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,371 shares of the footwear maker’s stock, valued at approximately $210,000.

Several other institutional investors also recently bought and sold shares of NKE. Annapolis Financial Services LLC boosted its stake in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares in the last quarter. Transcendent Capital Group LLC boosted its stake in NIKE by 97.6% in the first 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 in the last quarter. VitalStone Financial LLC boosted 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 acquiring an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC boosted its stake in NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in NIKE in the second quarter valued at approximately $44,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 0.6 %

NKE traded down $0.48 during trading hours on Friday, hitting $82.92. 7,214,787 shares of the company’s stock were exchanged, compared to its average volume of 11,701,926. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The firm has a 50 day moving average of $82.64 and a 200 day moving average of $85.32. The firm has a market cap of $125.16 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 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 company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the firm posted $0.94 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. Analysts predict that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Barclays lowered their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Wells Fargo & Company lifted their price objective on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Piper Sandler reiterated a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. Finally, Jefferies Financial Group lifted their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $96.56.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the 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 transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

About NIKE

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.