Azzad Asset Management Inc. ADV Has $1.91 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Azzad Asset Management Inc. ADV boosted its position in NIKE, Inc. (NYSE:NKE) by 1.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 20,339 shares of the footwear maker’s stock after purchasing an additional 347 shares during the period. Azzad Asset Management Inc. ADV’s holdings in NIKE were worth $1,911,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Sloy Dahl & Holst LLC lifted its stake in NIKE by 4.2% in the 1st quarter. Sloy Dahl & Holst LLC now owns 4,984 shares of the footwear maker’s stock valued at $468,000 after purchasing an additional 200 shares during the last quarter. Kiley Juergens Wealth Management LLC lifted its stake in NIKE by 19.7% in the 1st quarter. Kiley Juergens Wealth Management LLC now owns 18,048 shares of the footwear maker’s stock valued at $1,696,000 after purchasing an additional 2,975 shares during the last quarter. Plimoth Trust Co. LLC lifted its stake in NIKE by 24.6% in the 1st quarter. Plimoth Trust Co. LLC now owns 28,150 shares of the footwear maker’s stock valued at $2,646,000 after purchasing an additional 5,552 shares during the last quarter. Naviter Wealth LLC lifted its position in NIKE by 25.6% during the first quarter. Naviter Wealth LLC now owns 15,020 shares of the footwear maker’s stock worth $1,417,000 after acquiring an additional 3,057 shares during the last quarter. Finally, Buffington Mohr McNeal lifted its position in NIKE by 10.0% during the first quarter. Buffington Mohr McNeal now owns 12,873 shares of the footwear maker’s stock worth $1,210,000 after acquiring an additional 1,166 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NKE shares. BMO Capital Markets cut their price objective on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Piper Sandler cut their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. JPMorgan Chase & Co. restated a “neutral” rating and set a $83.00 price objective (down from $116.00) on shares of NIKE in a research report on Friday, June 28th. Wells Fargo & Company cut their price objective on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Finally, TD Cowen cut their price objective on shares of NIKE from $89.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE has a consensus rating of “Hold” and a consensus target price of $97.19.

NIKE Stock Performance

Shares of NIKE stock opened at $75.27 on Thursday. NIKE, Inc. has a fifty-two week low of $74.29 and a fifty-two week high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The firm has a market capitalization of $113.61 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.85 and a beta of 1.01. The company’s 50 day moving average price is $92.58 and its two-hundred day moving average price is $98.22.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter 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. On average, equities analysts forecast that NIKE, Inc. will post 3.32 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a dividend of $0.37 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.97%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Transactions at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 213,660 shares of company stock worth $19,946,333. Company insiders own 0.50% of the company’s stock.

NIKE Company 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.