King Luther Capital Management Corp Acquires 12,573 Shares of NIKE, Inc. (NYSE:NKE)

King Luther Capital Management Corp increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,068,582 shares of the footwear maker’s stock after purchasing an additional 12,573 shares during the quarter. King Luther Capital Management Corp owned 0.07% of NIKE worth $117,939,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Profund Advisors LLC boosted its position in NIKE by 42.8% during the 2nd quarter. Profund Advisors LLC now owns 35,214 shares of the footwear maker’s stock worth $3,887,000 after acquiring an additional 10,556 shares during the last quarter. Moran Wealth Management LLC boosted its position in NIKE by 137.5% during the 2nd quarter. Moran Wealth Management LLC now owns 5,545 shares of the footwear maker’s stock worth $612,000 after acquiring an additional 3,210 shares during the last quarter. Trust Investment Advisors boosted its position in NIKE by 4.7% during the 2nd quarter. Trust Investment Advisors now owns 12,791 shares of the footwear maker’s stock worth $1,412,000 after acquiring an additional 577 shares during the last quarter. Gabelli Funds LLC boosted its position in NIKE by 40.5% during the 2nd quarter. Gabelli Funds LLC now owns 139,345 shares of the footwear maker’s stock worth $15,380,000 after acquiring an additional 40,180 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in NIKE during the 2nd quarter worth approximately $221,000. 63.42% of the stock is owned by institutional investors.

NIKE Price Performance

NIKE stock traded down $0.18 during midday trading on Monday, reaching $105.78. The company’s stock had a trading volume of 631,032 shares, compared to its average volume of 7,359,432. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $131.31. The company has a current ratio of 2.87, a quick ratio of 1.84 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average price of $99.75 and a 200-day moving average price of $105.64. The stock has a market cap of $160.99 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 1.79 and a beta of 1.09.

NIKE (NYSE:NKE) last released its earnings results on Thursday, September 28th. The footwear maker reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.20. NIKE had a return on equity of 34.97% and a net margin of 9.82%. The firm had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $13 billion. During the same quarter in the previous year, the business posted $0.93 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, sell-side analysts predict that NIKE, Inc. will post 3.74 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.40%. This is a positive change from NIKE’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, December 1st. NIKE’s dividend payout ratio (DPR) is presently 41.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NKE shares. Citigroup reduced their price target on NIKE from $109.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, September 20th. Raymond James cut their price objective on NIKE from $128.00 to $121.00 and set an “outperform” rating for the company in a report on Tuesday, September 26th. Truist Financial began coverage on NIKE in a report on Friday. They issued a “hold” rating and a $108.00 price objective for the company. Wells Fargo & Company cut their price objective on NIKE from $130.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, September 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $113.00 price objective on shares of NIKE in a report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $122.03.

Insider Activity

In other news, Chairman Mark G. Parker sold 58,091 shares of NIKE stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $99.60, for a total transaction of $5,785,863.60. Following the sale, the chairman now directly owns 1,255,600 shares of the company’s stock, valued at $125,057,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robert Holmes Swan acquired 13,072 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were bought at an average cost of $96.13 per share, with a total value of $1,256,611.36. Following the completion of the purchase, the director now directly owns 18,005 shares in the company, valued at $1,730,820.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 58,091 shares of NIKE stock in a transaction that occurred on 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 directly owns 1,255,600 shares in the company, valued at $125,057,760. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

About NIKE

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.