Optimal Asset Management Inc. Acquires 8,578 Shares of Nike Inc (NYSE:NKE)
Optimal Asset Management Inc. lifted its holdings in shares of Nike Inc (NYSE:NKE) by 68.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,116 shares of the footwear maker’s stock after purchasing an additional 8,578 shares during the quarter. Optimal Asset Management Inc.’s holdings in Nike were worth $1,747,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Heritage Trust Co increased its holdings in shares of Nike by 2.7% during the first quarter. Heritage Trust Co now owns 4,411 shares of the footwear maker’s stock worth $365,000 after purchasing an additional 117 shares during the period. Pacer Advisors Inc. increased its stake in Nike by 4.2% in the first quarter. Pacer Advisors Inc. now owns 3,031 shares of the footwear maker’s stock valued at $273,000 after acquiring an additional 122 shares during the last quarter. Farmers Trust Co. increased its stake in Nike by 0.7% in the first quarter. Farmers Trust Co. now owns 18,139 shares of the footwear maker’s stock valued at $1,501,000 after acquiring an additional 125 shares during the last quarter. Moloney Securities Asset Management LLC increased its stake in Nike by 0.9% in the first quarter. Moloney Securities Asset Management LLC now owns 14,062 shares of the footwear maker’s stock valued at $1,164,000 after acquiring an additional 130 shares during the last quarter. Finally, ARGI Investment Services LLC increased its stake in Nike by 2.9% in the fourth quarter. ARGI Investment Services LLC now owns 4,776 shares of the footwear maker’s stock valued at $475,000 after acquiring an additional 133 shares during the last quarter. 64.54% of the stock is currently owned by institutional investors.
In related news, Director John W. Rogers, Jr. purchased 1,000 shares of the firm’s stock in a transaction on Friday, April 3rd. The stock was purchased at an average cost of $84.63 per share, with a total value of $84,630.00. Following the completion of the purchase, the director now owns 12,851 shares in the company, valued at approximately $1,087,580.13. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Andrew Campion sold 60,000 shares of Nike stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $98.00, for a total transaction of $5,880,000.00. The disclosure for this sale can be found here. Insiders have sold 236,000 shares of company stock valued at $23,228,100 in the last three months. 3.80% of the stock is owned by insiders.
Nike (NYSE:NKE) last announced its earnings results on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.53). Nike had a return on equity of 51.49% and a net margin of 10.46%. The firm had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $7.26 billion. During the same period in the prior year, the business earned $0.62 EPS. Nike’s quarterly revenue was down 38.0% on a year-over-year basis. Sell-side analysts anticipate that Nike Inc will post 2.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, May 29th. Nike’s dividend payout ratio is presently 39.36%.
A number of research analysts recently issued reports on NKE shares. Piper Sandler lifted their price objective on shares of Nike from $96.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group lifted their price objective on shares of Nike from $114.00 to $122.00 and gave the company a “buy” rating in a research note on Monday. Oppenheimer started coverage on shares of Nike in a research note on Friday, May 15th. They issued a “buy” rating and a $115.00 price objective on the stock. Cowen lifted their price objective on shares of Nike from $85.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Finally, DZ Bank restated a “sell” rating on shares of Nike in a research report on Friday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $107.90.
Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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