Gibraltar Capital Management Inc. Acquires 37,726 Shares of NIKE, Inc. (NYSE:NKE)

Gibraltar Capital Management Inc. raised its position in shares of NIKE, Inc. (NYSE:NKE) by 109.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,286 shares of the footwear maker’s stock after acquiring an additional 37,726 shares during the period. NIKE makes up approximately 3.2% of Gibraltar Capital Management Inc.’s holdings, making the stock its 17th biggest holding. Gibraltar Capital Management Inc.’s holdings in NIKE were worth $6,793,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cim LLC purchased a new stake in NIKE during the 4th quarter valued at $14,275,000. TKG Advisors LLC bought a new position in NIKE in the 4th quarter valued at $1,012,000. Louisiana State Employees Retirement System bought a new position in NIKE in the 4th quarter valued at $8,034,000. Brown Advisory Inc. grew its position in NIKE by 4.3% in the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after acquiring an additional 192,752 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in NIKE by 10,184.3% in the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock valued at $42,139,000 after acquiring an additional 384,357 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price 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 $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NKE has been the topic of a number of recent research reports. Evercore ISI dropped their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Jefferies Financial Group dropped their price target on NIKE from $90.00 to $80.00 in a research report on Friday. Citigroup dropped their price target on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Truist Financial dropped their price target on NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Finally, Piper Sandler dropped their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $96.44.

NIKE Price Performance

Shares of NIKE stock traded up $0.03 during mid-day trading on Friday, reaching $73.42. 14,527,522 shares of the stock traded hands, compared to its average volume of 21,321,846. The business has a 50-day moving average of $89.52 and a 200 day moving average of $96.07. NIKE, Inc. has a fifty-two week low of $71.67 and a fifty-two week high of $123.39. The stock has a market capitalization of $110.82 billion, a PE ratio of 19.69, a PEG ratio of 1.88 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 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 during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts predict that NIKE, Inc. will post 3.17 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a $0.37 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 2.02%. NIKE’s dividend payout ratio is presently 39.68%.

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.