Vestmark Advisory Solutions Inc. Makes New Investment in NIKE, Inc. $NKE

Vestmark Advisory Solutions Inc. bought a new stake in NIKE, Inc. (NYSE:NKE) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 13,603 shares of the footwear maker’s stock, valued at approximately $949,000.

A number of other institutional investors have also added to or reduced their stakes in NKE. Main Street Financial Solutions LLC grew its position in NIKE by 4.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after purchasing an additional 139 shares during the period. St. Clair Advisors LLC increased its position in shares of NIKE by 0.9% during the third quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker’s stock worth $1,061,000 after acquiring an additional 140 shares in the last quarter. Spirepoint Private Client LLC increased its position in shares of NIKE by 0.4% during the third quarter. Spirepoint Private Client LLC now owns 36,140 shares of the footwear maker’s stock worth $2,520,000 after acquiring an additional 153 shares in the last quarter. Evelyn Partners Investment Management Europe Ltd raised its holdings in shares of NIKE by 18.5% in the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 997 shares of the footwear maker’s stock worth $71,000 after acquiring an additional 156 shares during the last quarter. Finally, CVA Family Office LLC lifted its position in NIKE by 8.0% in the 3rd quarter. CVA Family Office LLC now owns 2,113 shares of the footwear maker’s stock valued at $147,000 after acquiring an additional 156 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan acquired 8,691 shares of the stock in a transaction dated Monday, December 22nd. The stock was purchased at an average cost of $57.54 per share, for a total transaction of $500,080.14. Following the acquisition, the director owned 43,293 shares in the company, valued at $2,491,079.22. The trade was a 25.12% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy D. Cook bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was acquired at an average price of $58.97 per share, for a total transaction of $2,948,500.00. Following the transaction, the director owned 105,480 shares in the company, valued at $6,220,155.60. This trade represents a 90.12% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 75,079 shares of company stock worth $4,449,887. Corporate insiders own 0.80% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $63.36 on Thursday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40. The business has a fifty day simple moving average of $63.26 and a two-hundred day simple moving average of $67.19. The company has a market capitalization of $93.80 billion, a P/E ratio of 37.27, a P/E/G ratio of 3.28 and a beta of 1.27.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.19 billion. During the same quarter in the prior year, the firm posted $0.78 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, March 2nd. NIKE’s payout ratio is currently 96.47%.

Analyst Ratings Changes

NKE has been the topic of several recent analyst reports. Daiwa Securities Group dropped their price objective on NIKE from $75.00 to $61.00 in a research note on Tuesday, December 23rd. Royal Bank Of Canada reissued a “buy” rating on shares of NIKE in a research report on Wednesday, January 21st. Berenberg Bank reaffirmed a “neutral” rating and issued a $70.00 price objective on shares of NIKE in a research report on Friday, December 19th. BNP Paribas Exane dropped their target price on shares of NIKE from $38.00 to $35.00 and set an “underperform” rating on the stock in a research report on Friday, December 19th. Finally, Telsey Advisory Group reduced their target price on NIKE from $75.00 to $72.00 and set a “market perform” rating for the company in a report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.61.

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).