NIKE, Inc. (NYSE:NKE) Shares Bought by GM Advisory Group LLC

GM Advisory Group LLC raised its holdings in NIKE, Inc. (NYSE:NKE) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,638 shares of the footwear maker’s stock after purchasing an additional 267 shares during the period. GM Advisory Group LLC’s holdings in NIKE were worth $651,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Cim LLC bought a new stake in shares of NIKE in the 4th quarter valued at approximately $14,275,000. TKG Advisors LLC bought a new stake in shares of NIKE in the 4th quarter valued at approximately $1,012,000. Spartan Planning & Wealth Management bought a new stake in shares of NIKE in the 4th quarter valued at approximately $182,000. Edmond DE Rothschild Holding S.A. increased its holdings in shares of NIKE by 27.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 113,299 shares of the footwear maker’s stock valued at $12,301,000 after acquiring an additional 24,686 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after acquiring an additional 9,689 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Up 0.1 %

Shares of NIKE stock opened at $80.97 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm has a market cap of $122.21 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The business has a fifty day simple moving average of $77.84 and a 200-day simple moving average of $87.23. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The business 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%. NIKE’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 earnings per share. On average, equities analysts forecast that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Activity

In other news, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the business’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 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. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NKE shares. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Truist Financial lowered their price objective on NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Wells Fargo & Company lowered their price objective on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Telsey Advisory Group lowered their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Finally, Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $95.33.

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.