WT Wealth Management Takes $1.93 Million Position in NIKE, Inc. $NKE

WT Wealth Management acquired a new position in NIKE, Inc. (NYSE:NKE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 27,222 shares of the footwear maker’s stock, valued at approximately $1,934,000.

A number of other institutional investors also recently bought and sold shares of NKE. Norges Bank bought a new stake in shares of NIKE during the 2nd quarter valued at about $835,063,000. Wellington Management Group LLP boosted its holdings in shares of NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after buying an additional 9,043,180 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of NIKE by 3,129.9% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,091,426 shares of the footwear maker’s stock worth $645,855,000 after buying an additional 8,809,950 shares during the last quarter. Harris Associates L P bought a new stake in NIKE during the second quarter valued at approximately $621,525,000. Finally, Invesco Ltd. increased its holdings in NIKE by 66.1% during the second quarter. Invesco Ltd. now owns 12,157,198 shares of the footwear maker’s stock valued at $863,647,000 after buying an additional 4,840,114 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Director Jorgen Vig Knudstorp bought 16,150 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the transaction, the director owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This represents a 308.32% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is owned by insiders.

NIKE Price Performance

Shares of NIKE stock opened at $67.49 on Monday. The firm has a market cap of $99.76 billion, a PE ratio of 34.61, a PEG ratio of 2.37 and a beta of 1.28. The stock has a 50 day moving average of $65.40 and a 200 day moving average of $69.37. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44.

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

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. NIKE’s payout ratio is currently 84.10%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of NIKE from a “sector perform” rating to an “overweight” rating in a research note on Tuesday, December 2nd. Truist Financial reaffirmed a “buy” rating and issued a $85.00 target price on shares of NIKE in a report on Wednesday, October 1st. Telsey Advisory Group reiterated a “market perform” rating and set a $75.00 target price on shares of NIKE in a research report on Wednesday, December 10th. Cowen raised NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of NIKE in a research note on Monday, December 8th. Four analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.24.

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.