Interchange Capital Partners LLC Makes New $304,000 Investment in NIKE, Inc. (NYSE:NKE)

Interchange Capital Partners LLC purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 4,033 shares of the footwear maker’s stock, valued at approximately $304,000.

Several other large investors have also made changes to their positions in NKE. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in shares of NIKE in the 4th quarter valued at $250,000. Commonwealth Equity Services LLC lifted its position in shares of NIKE by 1.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 432,198 shares of the footwear maker’s stock worth $46,924,000 after buying an additional 7,894 shares during the last quarter. 9258 Wealth Management LLC boosted its stake in shares of NIKE by 23.9% during the 4th quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock worth $474,000 after acquiring an additional 842 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of NIKE by 1.8% during the 4th quarter. Axxcess Wealth Management LLC now owns 9,297 shares of the footwear maker’s stock valued at $1,009,000 after acquiring an additional 164 shares during the last quarter. Finally, Legacy Financial Advisors Inc. raised its stake in shares of NIKE by 29.3% in the 4th quarter. Legacy Financial Advisors Inc. now owns 5,573 shares of the footwear maker’s stock valued at $605,000 after acquiring an additional 1,262 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on NKE. StockNews.com cut NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $83.00 target price (down from $116.00) on shares of NIKE in a research note on Friday, June 28th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Truist Financial decreased their price target on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a report on Friday, June 28th. Finally, BMO Capital Markets dropped their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $95.59.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

NIKE Price Performance

Shares of NYSE:NKE traded up $0.06 during midday trading on Friday, reaching $83.32. The company’s stock had a trading volume of 13,755,265 shares, compared to its average volume of 11,371,491. The business’s fifty day simple moving average is $77.91 and its 200-day simple moving average is $89.49. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a market capitalization of $124.93 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.19 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 earnings per share. As a group, equities research analysts expect that NIKE, Inc. will post 3.1 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. NIKE’s payout ratio is currently 39.68%.

NIKE Profile

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.