Foster Group Inc. Decreases Position in NIKE, Inc. (NYSE:NKE)

Foster Group Inc. lowered its holdings in NIKE, Inc. (NYSE:NKE) by 3.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,449 shares of the footwear maker’s stock after selling 177 shares during the period. Foster Group Inc.’s holdings in NIKE were worth $393,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. RK Asset Management LLC purchased a new position in NIKE in the third quarter valued at about $5,239,000. Miracle Mile Advisors LLC boosted its holdings in NIKE by 21.5% in the third quarter. Miracle Mile Advisors LLC now owns 70,864 shares of the footwear maker’s stock valued at $6,264,000 after purchasing an additional 12,546 shares during the last quarter. Eagle Rock Investment Company LLC purchased a new position in NIKE in the third quarter valued at about $3,594,000. Chemistry Wealth Management LLC purchased a new position in NIKE in the third quarter valued at about $3,373,000. Finally, Smith Anglin Financial LLC boosted its holdings in NIKE by 5.9% in the third quarter. Smith Anglin Financial LLC now owns 8,402 shares of the footwear maker’s stock valued at $743,000 after purchasing an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of research analyst reports. Citigroup reduced their target price on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Stifel Nicolaus reduced their target price on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Evercore ISI reduced their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Robert W. Baird increased their target price on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, Truist Financial reduced their target price on NIKE from $85.00 to $83.00 and set a “hold” rating on the stock in a report on Wednesday, October 2nd. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.04.

NIKE Stock Performance

NKE traded down $1.43 during trading hours on Monday, hitting $80.82. The company’s stock had a trading volume of 12,760,876 shares, compared to its average volume of 11,789,145. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $121.99 billion, a PE ratio of 21.57, a PEG ratio of 2.30 and a beta of 1.02. The company has a 50-day simple moving average of $80.90 and a 200 day simple moving average of $86.05.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the firm earned $0.94 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. As a group, sell-side analysts expect that NIKE, Inc. will post 3.04 EPS for the current year.

NIKE Announces Dividend

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

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on 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 directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on 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 directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

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.