Xponance Inc. Has $18.04 Million Stake in NIKE, Inc. (NYSE:NKE)

Xponance Inc. lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 239,290 shares of the footwear maker’s stock after purchasing an additional 8,420 shares during the period. Xponance Inc.’s holdings in NIKE were worth $18,035,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Lombard Odier Asset Management USA Corp lifted its holdings in NIKE by 43.2% in the second quarter. Lombard Odier Asset Management USA Corp now owns 7,000 shares of the footwear maker’s stock valued at $528,000 after buying an additional 2,111 shares during the period. Evergreen Capital Management LLC lifted its holdings in NIKE by 6.2% in the second quarter. Evergreen Capital Management LLC now owns 238,930 shares of the footwear maker’s stock valued at $18,095,000 after buying an additional 13,953 shares during the period. Public Sector Pension Investment Board lifted its holdings in NIKE by 71.5% in the second quarter. Public Sector Pension Investment Board now owns 46,500 shares of the footwear maker’s stock valued at $3,505,000 after buying an additional 19,390 shares during the period. DRW Securities LLC lifted its holdings in NIKE by 62.9% in the second quarter. DRW Securities LLC now owns 8,307 shares of the footwear maker’s stock valued at $626,000 after buying an additional 3,209 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in NIKE in the second quarter valued at approximately $934,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

NIKE Stock Up 6.8 %

NIKE stock opened at $86.52 on Monday. The company has a market cap of $130.59 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a fifty day simple moving average of $78.11 and a 200 day simple moving average of $86.99. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 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 company 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 company’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts anticipate that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $83.00 price objective (down from $116.00) on shares of NIKE in a report on Friday, June 28th. Sanford C. Bernstein cut their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday. Truist Financial increased their target price on shares of NIKE from $81.00 to $85.00 and gave the stock a “hold” rating in a report on Friday. Wedbush cut their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Finally, Raymond James reiterated a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $96.15.

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.