Kelleher Financial Advisors grew its holdings in NIKE, Inc. (NYSE:NKE – Free Report) by 6.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,028 shares of the footwear maker’s stock after acquiring an additional 1,160 shares during the quarter. NIKE accounts for 2.1% of Kelleher Financial Advisors’ portfolio, making the stock its 7th largest holding. Kelleher Financial Advisors’ holdings in NIKE were worth $2,100,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. BCK Partners Inc. acquired a new position in shares of NIKE in the first quarter valued at $2,839,000. Loomis Sayles & Co. L P raised its stake in NIKE by 138.2% during the first quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock worth $1,511,000 after acquiring an additional 6,518 shares in the last quarter. Merit Financial Group LLC raised its stake in NIKE by 13.3% during the first quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock worth $214,000 after acquiring an additional 186 shares in the last quarter. Bridgewater Associates LP acquired a new position in NIKE during the first quarter worth $278,000. Finally, Federated Hermes Inc. raised its stake in NIKE by 9.8% during the first quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock worth $58,392,000 after acquiring an additional 38,903 shares in the last quarter. 63.42% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have issued reports on NKE. StockNews.com began coverage on NIKE in a research note on Thursday, October 5th. They set a “hold” rating for the company. Wells Fargo & Company lowered their target price on NIKE from $130.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, September 18th. Truist Financial assumed coverage on NIKE in a research note on Friday. They issued a “hold” rating and a $108.00 target price for the company. BNP Paribas lowered NIKE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 25th. Finally, Barclays lowered their target price on NIKE from $124.00 to $119.00 and set an “overweight” rating for the company in a research note on Friday, September 29th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.03.
NIKE Stock Performance
Shares of NYSE NKE opened at $106.83 on Friday. The company has a current ratio of 2.87, a quick ratio of 1.84 and a debt-to-equity ratio of 0.64. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $131.31. The stock has a 50 day moving average of $99.59 and a 200-day moving average of $106.09. The company has a market capitalization of $162.59 billion, a P/E ratio of 33.21, a P/E/G ratio of 1.79 and a beta of 1.09.
NIKE (NYSE:NKE – Get Free Report) last released its quarterly earnings results on Thursday, September 28th. The footwear maker reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.20. The business had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $13 billion. NIKE had a return on equity of 34.97% and a net margin of 9.82%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 EPS. As a group, equities research analysts predict that NIKE, Inc. will post 3.74 EPS for the current year.
NIKE Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.39%. This is a boost from NIKE’s previous quarterly dividend of $0.34. NIKE’s payout ratio is 41.98%.
Insider Transactions at NIKE
In other NIKE news, Chairman Mark G. Parker sold 58,091 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $99.60, for a total value of $5,785,863.60. Following the completion of the transaction, the chairman now owns 1,255,600 shares of the company’s stock, valued at approximately $125,057,760. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Robert Holmes Swan purchased 13,072 shares of NIKE stock in a transaction on Monday, October 2nd. The shares were purchased at an average price of $96.13 per share, for a total transaction of $1,256,611.36. Following the transaction, the director now owns 18,005 shares of the company’s stock, valued at approximately $1,730,820.65. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 58,091 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $99.60, for a total value of $5,785,863.60. Following the sale, the chairman now owns 1,255,600 shares in the company, valued at approximately $125,057,760. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.
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.
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