NIKE, Inc. (NYSE:NKE) Shares Bought by Canvas Wealth Advisors LLC

by · The Cerbat Gem

Canvas Wealth Advisors LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 121.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 49,168 shares of the footwear maker’s stock after purchasing an additional 26,986 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in NIKE were worth $3,121,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Illinois Municipal Retirement Fund raised its stake in shares of NIKE by 3.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 154,829 shares of the footwear maker’s stock valued at $9,829,000 after buying an additional 5,185 shares during the last quarter. Transcend Capital Advisors LLC boosted its stake in shares of NIKE by 48.0% in the first quarter. Transcend Capital Advisors LLC now owns 31,216 shares of the footwear maker’s stock worth $1,982,000 after buying an additional 10,118 shares during the last quarter. Park Place Capital Corp grew its holdings in NIKE by 17.3% during the first quarter. Park Place Capital Corp now owns 1,405 shares of the footwear maker’s stock worth $89,000 after acquiring an additional 207 shares during the period. Beacon Financial Advisory LLC purchased a new position in NIKE during the first quarter valued at approximately $246,000. Finally, Perpetual Ltd boosted its position in NIKE by 18.7% in the 1st quarter. Perpetual Ltd now owns 16,536 shares of the footwear maker’s stock worth $1,050,000 after purchasing an additional 2,603 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada decreased their target price on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 20th. Needham & Company LLC cut their price target on NIKE from $75.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, June 18th. JPMorgan Chase & Co. lowered their price target on NIKE from $64.00 to $56.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Morgan Stanley dropped their price objective on NIKE from $70.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 17th. Finally, Stifel Nicolaus reduced their target price on NIKE from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Sixteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.59.

Read Our Latest Stock Analysis on NKE

NIKE Stock Performance

NIKE stock opened at $62.71 on Friday. The stock has a market cap of $92.75 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 2.23 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 1.52. The firm has a 50 day simple moving average of $60.31 and a 200-day simple moving average of $67.63. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $94.74.

NIKE (NYSE:NKE – Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period in the prior year, the business posted $0.99 earnings per share. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio is presently 53.16%.

Insider Buying and Selling

In related news, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Company Profile

(Free Report)

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.

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