LexAurum Advisors LLC Acquires 352 Shares of NIKE, Inc. (NYSE:NKE)

LexAurum Advisors LLC grew its holdings in NIKE, Inc. (NYSE:NKE) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,043 shares of the footwear maker’s stock after purchasing an additional 352 shares during the period. LexAurum Advisors LLC’s holdings in NIKE were worth $1,595,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Annapolis Financial Services LLC increased its holdings in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. Transcendent Capital Group LLC boosted its stake in shares of NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after buying an additional 200 shares during the last quarter. VitalStone Financial LLC boosted its stake in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the last quarter. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of NIKE by 64.4% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 480 shares of the footwear maker’s stock worth $45,000 after buying an additional 188 shares during the last quarter. Finally, Bruce G. Allen Investments LLC lifted its position in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 0.6 %

NKE opened at $83.41 on Friday. The stock has a market cap of $125.90 billion, a price-to-earnings ratio of 22.36, a P/E/G ratio of 1.96 and a beta of 1.02. The stock’s 50 day moving average price is $82.46 and its 200-day moving average price is $85.38. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share. On average, equities analysts forecast that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.77%. NIKE’s dividend payout ratio is 39.68%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NKE. Sanford C. Bernstein lowered their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Raymond James reiterated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Royal Bank of Canada lowered their price objective on NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Piper Sandler restated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.56.

Insider Activity

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.