Quest Partners LLC Acquires 4,720 Shares of NIKE, Inc. (NYSE:NKE)

Quest Partners LLC lifted its stake in NIKE, Inc. (NYSE:NKE) by 132.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,273 shares of the footwear maker’s stock after purchasing an additional 4,720 shares during the quarter. Quest Partners LLC’s holdings in NIKE were worth $624,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Beta Wealth Group Inc. increased its position in shares of NIKE by 2.3% in the fourth quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock valued at $489,000 after buying an additional 101 shares in the last quarter. Kampmann Melissa S. grew its stake in NIKE by 0.8% in the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock valued at $1,634,000 after acquiring an additional 115 shares during the period. Ascent Wealth Partners LLC increased its holdings in NIKE by 0.4% in the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after acquiring an additional 115 shares in the last quarter. Condor Capital Management raised its position in NIKE by 0.4% during the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after acquiring an additional 116 shares during the period. Finally, Bell Investment Advisors Inc lifted its holdings in NIKE by 4.7% during the fourth quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after purchasing an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the subject of several research analyst reports. Truist Financial reduced their price target on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Wedbush decreased their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Barclays lowered NIKE from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $109.00 to $80.00 in a research note on Friday, June 28th. Evercore ISI reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Finally, Bank of America lowered their target price on shares of NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Fourteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.59.

Insider Activity

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $78.40 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The firm has a market cap of $118.33 billion, a P/E ratio of 21.02, a P/E/G ratio of 2.11 and a beta of 1.02. The firm’s 50 day moving average price is $77.09 and its 200-day moving average price is $88.12. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

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.