NIKE, Inc. (NYSE:NKE) Shares Acquired by Strong Tower Advisory Services

Strong Tower Advisory Services lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 7.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,313 shares of the footwear maker’s stock after acquiring an additional 853 shares during the period. Strong Tower Advisory Services’ holdings in NIKE were worth $1,140,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after buying an additional 7,143,775 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares in the last quarter. Norges Bank purchased a new position in shares of NIKE during the fourth quarter worth about $1,315,097,000. Fisher Asset Management LLC lifted its holdings in shares of NIKE by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock valued at $1,073,515,000 after purchasing an additional 219,091 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of NIKE by 18.3% in the 3rd quarter. American Century Companies Inc. now owns 5,620,466 shares of the footwear maker’s stock valued at $537,429,000 after purchasing an additional 870,423 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of several research analyst reports. The Goldman Sachs Group cut their price target on NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Truist Financial reiterated a “hold” rating and issued a $99.00 price target on shares of NIKE in a research report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $115.00 price objective on shares of NIKE in a research report on Thursday, June 13th. Wells Fargo & Company reduced their target price on shares of NIKE from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, June 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price target (down previously from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $114.81.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Johanna Nielsen sold 282 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 over the last quarter. Company insiders own 0.50% of the company’s stock.

NIKE Trading Down 0.1 %

Shares of NYSE NKE traded down $0.13 on Tuesday, reaching $97.04. 629,844 shares of the company traded hands, compared to its average volume of 9,117,687. The stock has a market capitalization of $146.47 billion, a PE ratio of 28.58, a P/E/G ratio of 1.84 and a beta of 1.05. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $123.39. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $93.68 and a 200 day moving average of $99.67.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is 43.53%.

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.