Texas Yale Capital Corp. Grows Holdings in NIKE, Inc. $NKE

Texas Yale Capital Corp. boosted its holdings in NIKE, Inc. (NYSE:NKE) by 10.2% in the 4th quarter, Holdings Channel reports. The firm owned 263,053 shares of the footwear maker’s stock after purchasing an additional 24,270 shares during the period. NIKE accounts for about 0.5% of Texas Yale Capital Corp.’s investment portfolio, making the stock its 26th biggest holding. Texas Yale Capital Corp.’s holdings in NIKE were worth $16,759,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mizuho Markets Cayman LP purchased a new stake in NIKE in the 3rd quarter valued at $34,200,000. PFA Pension Forsikringsaktieselskab acquired a new position in NIKE in the 4th quarter valued at $43,188,000. Strive Asset Management LLC acquired a new position in NIKE in the 3rd quarter valued at $1,743,000. Nicholas Company Inc. increased its stake in NIKE by 33.3% in the 4th quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker’s stock valued at $7,878,000 after buying an additional 30,890 shares during the period. Finally, Park National Corp OH increased its stake in NIKE by 81.5% in the 4th quarter. Park National Corp OH now owns 431,055 shares of the footwear maker’s stock valued at $27,463,000 after buying an additional 193,514 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Evercore dropped their price objective on shares of NIKE from $69.00 to $57.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Bank of America reissued a “neutral” rating and issued a $55.00 price objective (down from $73.00) on shares of NIKE in a research note on Wednesday, April 1st. Berenberg Bank reissued a “neutral” rating on shares of NIKE in a research note on Wednesday, May 6th. HSBC cut shares of NIKE from a “buy” rating to a “hold” rating and dropped their price objective for the company from $90.00 to $48.00 in a research note on Monday, April 13th. Finally, CICC Research cut shares of NIKE from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $69.00 to $58.00 in a research note on Monday, April 6th. Sixteen analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $62.04.

NIKE Stock Performance

NYSE:NKE opened at $46.21 on Friday. NIKE, Inc. has a fifty-two week low of $41.35 and a fifty-two week high of $80.17. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The firm’s fifty day simple moving average is $45.75 and its 200-day simple moving average is $56.76. The stock has a market cap of $68.42 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 2.45 and a beta of 1.12.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the firm earned $0.54 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Analysts expect that NIKE, Inc. will post 1.51 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a $0.41 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.5%. NIKE’s payout ratio is currently 108.61%.

Insider Buying and Selling at NIKE

In other NIKE news, Director Timothy D. Cook acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were acquired at an average cost of $42.43 per share, for a total transaction of $1,060,750.00. Following the transaction, the director directly owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. This represents a 23.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Elliott Hill acquired 23,660 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The stock was acquired at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the transaction, the chief executive officer directly owned 265,247 shares in the company, valued at approximately $11,211,990.69. This represents a 9.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 64,441 shares of company stock valued at $2,734,204 over the last 90 days. 0.80% of the stock is currently owned by corporate insiders.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).