NIKE, Inc. $NKE Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 113.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 235,468 shares of the footwear maker’s stock after buying an additional 125,388 shares during the quarter. Federated Hermes Inc.’s holdings in NIKE were worth $16,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in NIKE in the 2nd quarter valued at $835,063,000. Wellington Management Group LLP boosted its holdings in shares of NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after acquiring an additional 9,043,180 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of 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 acquiring an additional 4,840,114 shares in the last quarter. Generation Investment Management LLP acquired a new position in shares of NIKE during the first quarter worth about $215,768,000. Finally, Laurel Wealth Advisors LLC raised its holdings in NIKE by 7,295.8% during the second quarter. Laurel Wealth Advisors LLC now owns 3,072,506 shares of the footwear maker’s stock worth $218,271,000 after purchasing an additional 3,030,962 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NKE has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $78.00 price objective on shares of NIKE in a report on Wednesday, October 1st. The Goldman Sachs Group set a $85.00 price target on NIKE and gave the company a “buy” rating in a report on Thursday, September 25th. BTIG Research began coverage on NIKE in a report on Tuesday, October 14th. They set a “buy” rating and a $100.00 price objective on the stock. Sanford C. Bernstein reiterated a “buy” rating and issued a $90.00 price objective on shares of NIKE in a research report on Monday, October 13th. Finally, Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $81.10.

Insiders Place Their Bets

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jorgen Vig Knudstorp acquired 16,150 shares of NIKE stock in a transaction dated Friday, November 7th. The stock was bought at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the transaction, the director directly owned 21,388 shares of the company’s stock, valued at approximately $1,327,980.92. This represents a 308.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.80% of the stock is currently owned by company insiders.

NIKE Stock Performance

Shares of NKE stock opened at $65.79 on Thursday. The stock has a fifty day moving average price of $65.63 and a 200 day moving average price of $69.23. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The stock has a market cap of $97.26 billion, a PE ratio of 33.74, a P/E/G ratio of 2.23 and a beta of 1.29. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.70 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a dividend of $0.41 per share. This is an increase from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, December 1st. This represents a $1.64 annualized dividend and a yield of 2.5%. NIKE’s payout ratio is 84.10%.

NIKE 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.