Invst LLC Takes $1.04 Million Position in NIKE, Inc. $NKE

Invst LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,349 shares of the footwear maker’s stock, valued at approximately $1,038,000.

Several other large investors have also recently added to or reduced their stakes in NKE. Brighton Jones LLC raised its holdings in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in NIKE by 10.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock worth $14,447,000 after purchasing an additional 17,888 shares in the last quarter. Triumph Capital Management purchased a new position in NIKE during the fourth quarter worth about $215,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NIKE by 5.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227,177 shares of the footwear maker’s stock worth $17,190,000 after purchasing an additional 11,501 shares in the last quarter. Finally, Man Group plc raised its holdings in NIKE by 3.1% during the fourth quarter. Man Group plc now owns 358,812 shares of the footwear maker’s stock worth $27,151,000 after purchasing an additional 10,762 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NKE has been the subject of several analyst reports. Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Truist Financial dropped their target price on shares of NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, June 24th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 target price on shares of NIKE in a report on Friday, August 22nd. Cowen raised shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Citigroup increased their target price on shares of NIKE from $57.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $78.67.

NIKE Stock Down 1.6%

NKE stock opened at $73.12 on Friday. The company’s 50 day simple moving average is $75.40 and its 200-day simple moving average is $67.81. The firm has a market capitalization of $107.98 billion, a PE ratio of 33.85, a P/E/G ratio of 2.70 and a beta of 1.24. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 earnings per share. Equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE’s dividend payout ratio is currently 74.07%.

NIKE Company 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.