Smith Chas P & Associates PA Cpas Purchases Shares of 2,484 NIKE, Inc. (NYSE:NKE)

Smith Chas P & Associates PA Cpas purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,484 shares of the footwear maker’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in NIKE by 32.7% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 2,261 shares of the footwear maker’s stock valued at $200,000 after purchasing an additional 557 shares during the last quarter. Lake Hills Wealth Management LLC purchased a new position in shares of NIKE during the 3rd quarter worth approximately $229,000. Compagnie Lombard Odier SCmA grew its holdings in shares of NIKE by 21.4% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 130,032 shares of the footwear maker’s stock worth $11,495,000 after acquiring an additional 22,921 shares during the period. Sawyer & Company Inc grew its holdings in shares of NIKE by 0.3% during the 3rd quarter. Sawyer & Company Inc now owns 44,569 shares of the footwear maker’s stock worth $3,940,000 after acquiring an additional 146 shares during the period. Finally, Webster Bank N. A. grew its holdings in shares of NIKE by 10.6% during the 3rd quarter. Webster Bank N. A. now owns 1,477 shares of the footwear maker’s stock worth $131,000 after acquiring an additional 142 shares during the period. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, 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 related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, 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 the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. This 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.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NKE shares. 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. Piper Sandler reiterated a “neutral” rating and set a $80.00 target price on shares of NIKE in a report on Friday, September 20th. BMO Capital Markets reduced their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. TD Cowen upped their target price on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their target price on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

NIKE Price Performance

NYSE NKE opened at $82.15 on Monday. The business’s fifty day moving average price is $81.66 and its 200-day moving average price is $85.58. The stock has a market capitalization of $123.99 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS. On average, equities analysts predict that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. NIKE’s payout ratio is 39.68%.

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.