Choreo LLC Acquires 21,194 Shares of NIKE, Inc. (NYSE:NKE)

Choreo LLC grew its stake in NIKE, Inc. (NYSE:NKE) by 140.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,260 shares of the footwear maker’s stock after buying an additional 21,194 shares during the quarter. Choreo LLC’s holdings in NIKE were worth $2,779,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares in the last quarter. Capital International Investors grew its holdings in shares of NIKE by 34.9% during the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in NIKE by 87.5% in the 4th 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 acquired a new position in NIKE during the 4th quarter worth approximately $1,315,097,000. Finally, Fisher Asset Management LLC grew its stake in shares of NIKE by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after acquiring an additional 211,360 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

NIKE Trading Down 1.8 %

NKE stock opened at $78.07 on Wednesday. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a market capitalization of $117.06 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. The company’s 50-day simple moving average is $77.03 and its 200 day simple moving average is $88.19. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE, Inc. will post 3.1 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.90%. NIKE’s dividend payout ratio is presently 39.68%.

Wall Street Analysts Forecast Growth

NKE has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Bank of America decreased their price objective on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday, June 28th. Truist Financial dropped their target price on NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Royal Bank of Canada lowered their price target on NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 2nd. Finally, KeyCorp reissued a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Fourteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.59.

About NIKE

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.