Talon Private Wealth LLC Acquires New Holdings in NIKE, Inc. $NKE

Talon Private Wealth LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 13,280 shares of the footwear maker’s stock, valued at approximately $701,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares during the period. Caxton Associates LLP acquired a new stake in NIKE in the first quarter valued at $311,000. United Bank increased its holdings in NIKE by 11.3% in the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock valued at $1,212,000 after purchasing an additional 1,736 shares during the period. NewEdge Advisors LLC raised its position in NIKE by 0.3% during the 2nd quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock worth $4,558,000 after purchasing an additional 197 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in NIKE by 6.5% during the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after purchasing an additional 11,646 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the transaction, the executive vice president owned 53,133 shares of the company’s stock, valued at $2,453,681.94. This represents a 24.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $43.22 on Thursday. The company has a fifty day moving average of $43.66 and a 200-day moving average of $50.59. The firm has a market capitalization of $64.12 billion, a P/E ratio of 20.68, a P/E/G ratio of 1.91 and a beta of 1.12. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. NIKE, Inc. has a twelve month low of $40.00 and a twelve month high of $80.17.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. NIKE’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were issued a dividend of $0.41 per share. The ex-dividend date was Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.8%. NIKE’s dividend payout ratio is currently 78.47%.

Analysts Set New Price Targets

NKE has been the topic of a number of analyst reports. Robert W. Baird reiterated an “outperform” rating and issued a $70.00 price target on shares of NIKE in a research report on Wednesday, July 1st. Stifel Nicolaus set a $45.00 price objective on NIKE and gave the stock a “hold” rating in a research report on Wednesday, July 1st. China Renaissance lowered their price objective on NIKE from $50.30 to $47.30 and set a “hold” rating for the company in a research report on Thursday, July 2nd. Bank of America cut their price objective on NIKE from $55.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. Finally, JPMorgan Chase & Co. reduced their target price on NIKE from $52.00 to $47.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, NIKE currently has a consensus rating of “Hold” and a consensus target price of $53.74.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).