Mcdonald Capital Investors Inc. CA Increases Stake in NIKE, Inc. (NYSE:NKE)

Mcdonald Capital Investors Inc. CA raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 110.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 887,743 shares of the footwear maker’s stock after purchasing an additional 465,646 shares during the period. NIKE comprises about 4.2% of Mcdonald Capital Investors Inc. CA’s portfolio, making the stock its 10th largest holding. Mcdonald Capital Investors Inc. CA owned approximately 0.06% of NIKE worth $66,909,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of NKE. Rhumbline Advisers lifted its holdings in shares of NIKE by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 2,450,404 shares of the footwear maker’s stock worth $184,687,000 after purchasing an additional 66,146 shares during the last quarter. Chilton Capital Management LLC lifted its stake in NIKE by 11.3% in the second quarter. Chilton Capital Management LLC now owns 1,671 shares of the footwear maker’s stock valued at $126,000 after buying an additional 170 shares during the last quarter. Klingenstein Fields & Co. LP boosted its holdings in shares of NIKE by 3.1% during the second quarter. Klingenstein Fields & Co. LP now owns 177,642 shares of the footwear maker’s stock valued at $13,389,000 after acquiring an additional 5,354 shares during the period. Verus Capital Partners LLC grew its position in shares of NIKE by 24.6% during the second quarter. Verus Capital Partners LLC now owns 4,155 shares of the footwear maker’s stock worth $313,000 after acquiring an additional 820 shares during the last quarter. Finally, Natixis Advisors LLC increased its holdings in shares of NIKE by 31.7% in the 2nd quarter. Natixis Advisors LLC now owns 973,916 shares of the footwear maker’s stock worth $73,404,000 after acquiring an additional 234,688 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

NKE stock opened at $83.32 on Tuesday. The firm has a 50 day simple moving average of $77.63 and a 200 day simple moving average of $89.21. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The stock has a market cap of $125.76 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. Research analysts anticipate that NIKE, Inc. will post 3.1 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 paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NKE has been the topic of several analyst reports. Guggenheim dropped their price target on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Telsey Advisory Group reduced their price target on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Piper Sandler reissued a “neutral” rating and set a $80.00 price target on shares of NIKE in a report on Friday, August 23rd. Morgan Stanley restated an “equal weight” rating and set a $79.00 price objective (down from $114.00) on shares of NIKE in a research note on Friday, June 28th. Finally, HSBC decreased their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $95.59.

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.