Gallacher Capital Management LLC Buys Shares of 2,835 NIKE, Inc. (NYSE:NKE)

Gallacher Capital Management LLC bought a new stake in NIKE, Inc. (NYSE:NKE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,835 shares of the footwear maker’s stock, valued at approximately $266,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC grew its holdings in 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 buying an additional 220 shares during the last quarter. Iron Horse Wealth Management LLC grew its holdings in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after buying an additional 140 shares during the last quarter. Planned Solutions Inc. acquired a new stake in NIKE in the 4th quarter valued at approximately $29,000. True Wealth Design LLC grew its holdings in 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 during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in NIKE in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 0.1 %

NYSE:NKE traded up $0.08 on Friday, hitting $73.47. 5,975,889 shares of the stock were exchanged, compared to its average volume of 11,130,018. The stock has a market capitalization of $110.89 billion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 1.86 and a beta of 1.01. NIKE, Inc. has a 52 week low of $71.67 and a 52 week 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 company’s 50-day moving average price is $89.89 and its 200 day moving average price is $96.31.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 EPS. On average, equities research analysts forecast that NIKE, Inc. will post 3.17 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a dividend of $0.37 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 2.01%. NIKE’s payout ratio is currently 39.68%.

Insider Transactions at NIKE

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NKE shares. Truist Financial decreased their price objective on NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a report on Friday, June 28th. BMO Capital Markets decreased their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. The Goldman Sachs Group decreased their price objective on NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $79.00 price target (down previously from $114.00) on shares of NIKE in a research note on Friday, June 28th. Finally, Wells Fargo & Company decreased their price target on NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $97.19.

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.