NIKE, Inc. $NKE Shares Bought by National Pension Service

National Pension Service grew its stake in NIKE, Inc. (NYSE:NKE) by 0.3% in the third quarter, Holdings Channel reports. The fund owned 3,119,089 shares of the footwear maker’s stock after purchasing an additional 8,511 shares during the period. National Pension Service’s holdings in NIKE were worth $217,494,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mascoma Wealth Management LLC acquired a new position in NIKE in the 2nd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of NIKE during the 2nd quarter worth approximately $31,000. NewSquare Capital LLC raised its position in shares of NIKE by 54.4% during the 2nd quarter. NewSquare Capital LLC now owns 732 shares of the footwear maker’s stock valued at $52,000 after buying an additional 258 shares during the period. Field & Main Bank lifted its holdings in NIKE by 36.4% in the second quarter. Field & Main Bank now owns 750 shares of the footwear maker’s stock valued at $53,000 after acquiring an additional 200 shares during the last quarter. Finally, Financial Consulate Inc. acquired a new position in NIKE in the third quarter valued at approximately $57,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NKE. Royal Bank Of Canada restated a “buy” rating on shares of NIKE in a research report on Wednesday, January 21st. Truist Financial set a $69.00 price objective on NIKE in a research report on Wednesday, January 14th. Daiwa Capital Markets decreased their target price on shares of NIKE from $75.00 to $61.00 in a research report on Tuesday, December 23rd. Sanford C. Bernstein reaffirmed a “buy” rating and set a $85.00 target price on shares of NIKE in a research note on Tuesday, January 6th. Finally, Williams Trading reduced their price target on shares of NIKE from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.61.

Insider Buying and Selling

In other news, CEO Elliott Hill acquired 16,388 shares of the firm’s stock in a transaction dated Monday, December 29th. The stock was acquired at an average cost 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 approximately $14,760,965.70. This trade represents a 7.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the transaction, the chairman owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. The trade was a 11.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have bought 91,229 shares of company stock valued at $5,452,640 over the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

NIKE Stock Down 1.2%

Shares of NYSE NKE opened at $61.84 on Friday. The stock has a market cap of $91.55 billion, a P/E ratio of 36.38, a PEG ratio of 3.20 and a beta of 1.28. The business’s fifty day simple moving average is $63.96 and its 200-day simple moving average is $68.67. 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.

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

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.7%. This is a positive change from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, December 1st. NIKE’s dividend payout ratio is 96.47%.

NIKE Profile

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).