Chapin Davis Inc. Increases Position in NIKE, Inc. (NYSE:NKE)

Chapin Davis Inc. lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 4.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 11,297 shares of the footwear maker’s stock after purchasing an additional 515 shares during the period. Chapin Davis Inc.’s holdings in NIKE were worth $1,062,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NKE. Annapolis Financial Services LLC increased its holdings in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the last quarter. Iron Horse Wealth Management LLC raised its holdings in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of NIKE during the 4th quarter worth approximately $29,000. True Wealth Design LLC boosted its holdings in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares in the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of NIKE in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 213,660 shares of company stock worth $19,946,333. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of several research analyst reports. Wells Fargo & Company decreased their price objective on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research note on Friday. UBS Group reissued a “neutral” rating and issued a $78.00 target price on shares of NIKE in a research report on Friday. Williams Trading reaffirmed a “sell” rating and set a $85.00 price target (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. TD Cowen decreased their price objective on NIKE from $89.00 to $75.00 and set a “hold” rating for the company in a report on Friday. Finally, Jefferies Financial Group cut their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, NIKE has an average rating of “Hold” and an average target price of $98.96.

NIKE Price Performance

NIKE stock opened at $75.80 on Monday. NIKE, Inc. has a one year low of $74.55 and a one year high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The business has a fifty day moving average of $93.28 and a two-hundred day moving average of $98.85. The company has a market cap of $114.41 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter last year, the firm posted $0.66 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, analysts predict that NIKE, Inc. will post 3.9 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.95%. The ex-dividend date is Monday, June 3rd. NIKE’s payout ratio is 39.68%.

NIKE Company 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.