Veracity Capital LLC Acquires 334 Shares of NIKE, Inc. (NYSE:NKE)

Veracity Capital LLC raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 10.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,507 shares of the footwear maker’s stock after acquiring an additional 334 shares during the quarter. Veracity Capital LLC’s holdings in NIKE were worth $330,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NKE. Piscataqua Savings Bank grew its stake in shares of NIKE by 2.1% in the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after buying an additional 100 shares in the last quarter. Physicians Financial Services Inc. grew its stake in shares of NIKE by 0.6% in the fourth quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock valued at $1,745,000 after buying an additional 100 shares in the last quarter. ZWJ Investment Counsel Inc. grew its stake in shares of NIKE by 4.0% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock valued at $282,000 after buying an additional 100 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its stake in shares of NIKE by 0.4% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock valued at $2,776,000 after buying an additional 100 shares in the last quarter. Finally, Claro Advisors LLC lifted its holdings in NIKE by 0.8% during the 4th quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock valued at $1,327,000 after purchasing an additional 101 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on NKE. Citigroup cut their price target on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a report on Friday, June 28th. TD Cowen cut their price target on NIKE from $89.00 to $75.00 and set a “hold” rating for the company in a report on Friday, June 28th. BMO Capital Markets cut their price target on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Bank of America cut their price target on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Piper Sandler cut their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $97.19.

NIKE Stock Performance

Shares of NKE stock opened at $75.53 on Friday. The business’s 50 day simple moving average is $91.81 and its 200 day simple moving average is $97.90. NIKE, Inc. has a one year low of $74.29 and a one year high of $123.39. The stock has a market capitalization of $114.00 billion, a PE ratio of 20.17, a PEG ratio of 1.85 and a beta of 1.01. 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 (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. As a group, research analysts forecast that NIKE, Inc. will post 3.29 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

About NIKE

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.