1832 Asset Management L.P. Purchases 93,708 Shares of NIKE, Inc. (NYSE:NKE)

1832 Asset Management L.P. grew its position in NIKE, Inc. (NYSE:NKE) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,212,534 shares of the footwear maker’s stock after purchasing an additional 93,708 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.15% of NIKE worth $166,759,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Beta Wealth Group Inc. boosted its stake in shares of NIKE by 2.3% in the 4th quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock valued at $489,000 after purchasing an additional 101 shares during the last quarter. Kampmann Melissa S. lifted its position in shares of NIKE by 0.8% during the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock valued at $1,634,000 after acquiring an additional 115 shares during the period. Ascent Wealth Partners LLC lifted its position in shares of NIKE by 0.4% during the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after acquiring an additional 115 shares during the period. Condor Capital Management lifted its position in shares of NIKE by 0.4% during the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after acquiring an additional 116 shares during the period. Finally, Bell Investment Advisors Inc lifted its position in shares of NIKE by 4.7% during the 4th quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after acquiring an additional 118 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

NKE opened at $86.52 on Friday. The firm has a market cap of $130.59 billion, a P/E ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02. The firm has a 50-day moving average of $78.11 and a 200 day moving average of $87.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. On average, research analysts expect that NIKE, Inc. will post 3.06 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.71%. NIKE’s payout ratio is currently 39.68%.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of research reports. Citigroup dropped their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Piper Sandler reiterated a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday. Guggenheim dropped their target price on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Truist Financial boosted their target price on shares of NIKE from $81.00 to $85.00 and gave the company a “hold” rating in a research report on Friday. Finally, Sanford C. Bernstein dropped their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.15.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

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.