Firestone Capital Management Invests $77,000 in NIKE, Inc. (NYSE:NKE)

by · The Cerbat Gem

Firestone Capital Management acquired a new position in shares of NIKE, Inc. (NYSE:NKE – Free Report) during the first quarter, Holdings Channel.com reports. The fund acquired 1,209 shares of the footwear maker’s stock, valued at approximately $77,000.

A number of other institutional investors have also added to or reduced their stakes in NKE. Elgethun Capital Management raised its stake in NIKE by 13.7% during the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock valued at $94,000 after buying an additional 149 shares in the last quarter. AlTi Global Inc. grew its holdings in shares of NIKE by 0.4% during the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker’s stock valued at $2,813,000 after purchasing an additional 150 shares during the last quarter. Cohen & Steers Inc. grew its holdings in NIKE by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker’s stock worth $240,000 after buying an additional 160 shares in the last quarter. Banco de Sabadell S.A boosted its stake in NIKE by 1.2% during the 4th quarter. Banco de Sabadell S.A now owns 15,966 shares of the footwear maker’s stock valued at $1,208,000 after purchasing an additional 188 shares in the last quarter. Finally, Aaron Wealth Advisors LLC boosted its stake in NIKE by 4.3% during the 1st quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker’s stock valued at $296,000 after purchasing an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NKE shares. Evercore ISI cut their price objective on NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, June 24th. BMO Capital Markets lowered their price target on NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Cfra Research raised shares of NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Needham & Company LLC increased their target price on shares of NIKE from $66.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. Finally, Robert W. Baird raised their price target on NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.15.

Check Out Our Latest Stock Report on NIKE

NIKE Trading Down 2.6%

Shares of NKE opened at $72.66 on Monday. The company has a market cap of $107.47 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.63 and a beta of 1.25. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock has a fifty day moving average price of $64.06 and a two-hundred day moving average price of $67.26.

NIKE (NYSE:NKE – Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 earnings per share. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. NIKE’s dividend payout ratio is presently 74.07%.

NIKE 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.

Featured Stories

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE – Free Report).