Jones Financial Companies Lllp Acquires 72,880 Shares of NIKE, Inc. $NKE

Jones Financial Companies Lllp increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 11.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 718,560 shares of the footwear maker’s stock after purchasing an additional 72,880 shares during the period. Jones Financial Companies Lllp’s holdings in NIKE were worth $49,830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of NIKE by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 113,823,785 shares of the footwear maker’s stock valued at $8,086,042,000 after purchasing an additional 672,705 shares during the last quarter. State Street Corp lifted its stake in NIKE by 2.8% in the 2nd quarter. State Street Corp now owns 59,154,159 shares of the footwear maker’s stock valued at $4,225,441,000 after purchasing an additional 1,590,603 shares during the last quarter. Invesco Ltd. boosted its position in NIKE by 66.1% in 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 in the last quarter. Jennison Associates LLC grew its stake in shares of NIKE by 42.3% during the third quarter. Jennison Associates LLC now owns 11,838,528 shares of the footwear maker’s stock worth $825,501,000 after buying an additional 3,518,666 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of NIKE during the second quarter worth $835,063,000. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.6%

NYSE:NKE opened at $62.19 on Tuesday. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $92.06 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 3.16 and a beta of 1.27. The firm has a fifty day simple moving average of $63.97 and a two-hundred day simple moving average of $68.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.16. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 earnings per share. Analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were issued a $0.41 dividend. The ex-dividend date was Monday, December 1st. This is an increase from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.6%. NIKE’s dividend payout ratio is currently 96.47%.

Insider Transactions at NIKE

In other NIKE news, CEO Elliott Hill purchased 16,388 shares of NIKE stock in a transaction that occurred on Monday, December 29th. The stock was acquired at an average price of $61.10 per share, with a total value of $1,001,306.80. Following the transaction, the chief executive officer owned 241,587 shares in the company, valued at $14,760,965.70. This trade represents a 7.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Holmes Swan purchased 8,691 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were acquired at an average price of $57.54 per share, with a total value of $500,080.14. Following the purchase, the director directly owned 43,293 shares in the company, valued at $2,491,079.22. This represents a 25.12% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 91,229 shares of company stock valued at $5,452,640. Company insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent research reports. BTIG Research reiterated a “buy” rating and set a $100.00 target price on shares of NIKE in a research report on Tuesday, January 27th. Piper Sandler set a $75.00 price target on shares of NIKE and gave the stock an “overweight” rating in a report on Friday, December 19th. Oppenheimer reissued an “outperform” rating on shares of NIKE in a research note on Wednesday, December 17th. Jefferies Financial Group reaffirmed a “buy” rating and set a $110.00 target price on shares of NIKE in a research report on Monday, January 12th. Finally, Berenberg Bank reiterated a “neutral” rating and issued a $70.00 price target on shares of NIKE in a research report on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $74.61.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).