DoubleLine ETF Adviser LP Makes New $2.45 Million Investment in NIKE, Inc. (NYSE:NKE)

DoubleLine ETF Adviser LP acquired a new position in NIKE, Inc. (NYSE:NKE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 32,563 shares of the footwear maker’s stock, valued at approximately $2,454,000.

A number of other institutional investors also recently made changes to their positions in NKE. Kampmann Melissa S. boosted its position in NIKE by 0.8% during the fourth quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock valued at $1,634,000 after buying an additional 115 shares during the period. Ascent Wealth Partners LLC boosted its holdings in NIKE by 0.4% during the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after acquiring an additional 115 shares during the period. Condor Capital Management grew its position in NIKE by 0.4% during the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after acquiring an additional 116 shares during the last quarter. Bell Investment Advisors Inc increased its stake in NIKE by 4.7% in the 4th quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock worth $283,000 after purchasing an additional 118 shares during the period. Finally, Lodestone Wealth Management LLC lifted its position in NIKE by 5.5% in the first quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after purchasing an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.7 %

NYSE:NKE opened at $88.04 on Thursday. 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 firm has a market cap of $132.88 billion, a P/E ratio of 23.60, a P/E/G ratio of 2.30 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The firm has a 50-day simple moving average of $78.70 and a two-hundred day simple moving average of $86.82.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. Analysts predict that NIKE, Inc. will post 3.04 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NKE shares. Piper Sandler restated a “neutral” rating and issued a $80.00 target price on shares of NIKE in a report on Friday, September 20th. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and raised their price target for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Royal Bank of Canada upped their price objective on shares of NIKE from $75.00 to $85.00 and gave the company a “sector perform” rating in a research note on Wednesday. Guggenheim cut their target price on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, TD Cowen lowered their price target on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.52.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on 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 directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated 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 transaction, the chairman now owns 1,031,226 shares in the company, 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, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

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.