Plimoth Trust Co. LLC Boosts Stock Position in NIKE, Inc. $NKE

Plimoth Trust Co. LLC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 2.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,928 shares of the footwear maker’s stock after purchasing an additional 813 shares during the quarter. Plimoth Trust Co. LLC’s holdings in NIKE were worth $2,339,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Vanguard Group Inc. grew its stake in shares of NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after buying an additional 4,957,494 shares in the last quarter. Wellington Management Group LLP increased its position in NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after acquiring an additional 9,043,180 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of NIKE by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock worth $1,332,331,000 after acquiring an additional 620,214 shares during the last quarter. Finally, Flossbach Von Storch SE boosted its stake in shares of NIKE by 24.0% during the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock worth $652,995,000 after purchasing an additional 1,988,547 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

Shares of NYSE NKE opened at $72.01 on Monday. The firm’s 50 day simple moving average is $74.62 and its 200-day simple moving average is $67.24. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $84.76. The stock has a market capitalization of $106.34 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 2.64 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same period in the previous year, the business earned $0.70 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. Analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is 82.05%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on NKE shares. Hsbc Global Res raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 27th. Truist Financial reiterated a “buy” rating and issued a $85.00 price target on shares of NIKE in a report on Wednesday, October 1st. Barclays set a $70.00 price objective on NIKE and gave the stock a “positive” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Finally, Piper Sandler set a $84.00 price target on shares of NIKE and gave the company an “overweight” rating in a research report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

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.