Invst LLC Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

Invst LLC raised its stake in NIKE, Inc. (NYSE:NKE) by 3.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,004 shares of the footwear maker’s stock after buying an additional 579 shares during the period. Invst LLC’s holdings in NIKE were worth $1,383,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. 9258 Wealth Management LLC increased its holdings in NIKE by 23.9% during the 4th quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock valued at $474,000 after acquiring an additional 842 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of NIKE by 19.2% during the 4th quarter. Eagle Asset Management Inc. now owns 7,816 shares of the footwear maker’s stock worth $849,000 after purchasing an additional 1,257 shares in the last quarter. Partners Capital Investment Group LLP acquired a new position in shares of NIKE during the 4th quarter worth approximately $321,000. FinTrust Capital Advisors LLC lifted its stake in NIKE by 16.4% in the 4th quarter. FinTrust Capital Advisors LLC now owns 2,026 shares of the footwear maker’s stock valued at $220,000 after buying an additional 286 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in NIKE by 3.6% during the 4th quarter. Jones Financial Companies Lllp now owns 3,662 shares of the footwear maker’s stock valued at $398,000 after buying an additional 126 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada boosted their price target on NIKE from $75.00 to $85.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 25th. Citigroup reduced their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Truist Financial raised their price target on shares of NIKE from $81.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Finally, Telsey Advisory Group restated an “outperform” rating and set a $100.00 target price on shares of NIKE in a research report on Friday, September 20th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $96.52.

NIKE Stock Performance

NYSE:NKE opened at $89.44 on Monday. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The firm has a market capitalization of $135.00 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 2.30 and a beta of 1.02. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The firm’s fifty day simple moving average is $79.67 and its 200 day simple moving average is $86.57.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 earnings per share. As a group, equities research analysts expect that NIKE, Inc. will post 3.04 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.65%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) 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.