NIKE, Inc. (NYSE:NKE) Shares Purchased by First Foundation Advisors

Financial News Live · Nov 26, 2022 23:11

First Foundation Advisors boosted its position in NIKE, Inc. (NYSE:NKE – Get Rating) by 3.9% during the second quarter, Holdings Channel.com reports. The fund owned 16,942 shares of the footwear maker's stock after purchasing an additional 630 shares during the quarter. First Foundation Advisors' holdings in NIKE were worth $1,732,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Evergreen Capital Management LLC lifted its stake in shares of NIKE by 7.6% during the first quarter. Evergreen Capital Management LLC now owns 104,831 shares of the footwear maker's stock worth $14,106,000 after purchasing an additional 7,415 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of NIKE by 5.8% during the second quarter. Commonwealth Equity Services LLC now owns 418,919 shares of the footwear maker's stock worth $42,813,000 after purchasing an additional 22,855 shares in the last quarter. Evanson Asset Management LLC lifted its stake in shares of NIKE by 33.3% during the second quarter. Evanson Asset Management LLC now owns 2,403 shares of the footwear maker's stock worth $246,000 after purchasing an additional 600 shares in the last quarter. Evercore Wealth Management LLC lifted its stake in shares of NIKE by 0.3% during the first quarter. Evercore Wealth Management LLC now owns 592,823 shares of the footwear maker's stock worth $79,770,000 after purchasing an additional 1,753 shares in the last quarter. Finally, Transatlantique Private Wealth LLC acquired a new position in shares of NIKE during the second quarter worth about $313,000. Institutional investors and hedge funds own 64.19% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have commented on NKE shares. Jefferies Financial Group set a $115.00 price objective on NIKE in a research note on Friday, November 18th. Deutsche Bank Aktiengesellschaft dropped their target price on NIKE from $123.00 to $99.00 and set a "buy" rating on the stock in a research report on Friday, September 30th. Royal Bank of Canada set a $115.00 target price on NIKE in a research report on Tuesday, October 4th. Oppenheimer dropped their target price on NIKE to $135.00 in a research report on Thursday, October 20th. Finally, UBS Group set a $141.00 target price on NIKE in a research report on Monday, November 14th. Thirteen investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $115.25.

NIKE Stock Performance

Shares of NYSE NKE opened at $105.96 on Friday. The company has a current ratio of 2.64, a quick ratio of 1.76 and a debt-to-equity ratio of 0.56. The stock has a 50 day simple moving average of $95.19 and a 200-day simple moving average of $105.12. The company has a market cap of $166.20 billion, a PE ratio of 30.02, a P/E/G ratio of 3.54 and a beta of 1.12. NIKE, Inc. has a 12-month low of $82.22 and a 12-month high of $173.37.

NIKE (NYSE:NKE – Get Rating) last issued its quarterly earnings data on Thursday, September 29th. The footwear maker reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 37.08% and a net margin of 11.96%. The business's revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 earnings per share. On average, equities research analysts forecast that NIKE, Inc. will post 2.97 EPS for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 28th. Stockholders of record on Monday, December 5th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, December 2nd. This is an increase from NIKE's previous quarterly dividend of $0.31. This represents a $1.36 annualized dividend and a dividend yield of 1.28%. NIKE's payout ratio is currently 34.56%.

Insider Transactions at NIKE

In other NIKE news, EVP Monique S. Matheson sold 5,882 shares of the company's stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $93.55, for a total value of $550,261.10. Following the completion of the sale, the executive vice president now directly owns 60,213 shares in the company, valued at $5,632,926.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.40% of the company's stock.

About NIKE

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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.