NIKE, Inc. $NKE Stake Lifted by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,890 shares of the footwear maker’s stock after buying an additional 14,126 shares during the quarter. Janney Montgomery Scott LLC’s holdings in NIKE were worth $11,003,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NKE. Brighton Jones LLC grew its stake in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after buying an additional 160,980 shares during the last quarter. Merit Financial Group LLC grew its stake in shares of NIKE by 26.2% in the first quarter. Merit Financial Group LLC now owns 10,526 shares of the footwear maker’s stock worth $668,000 after purchasing an additional 2,187 shares in the last quarter. RFG Advisory LLC grew its stake in shares of NIKE by 11.6% in the first quarter. RFG Advisory LLC now owns 9,746 shares of the footwear maker’s stock worth $619,000 after purchasing an additional 1,011 shares in the last quarter. Naples Global Advisors LLC grew its stake in shares of NIKE by 16.3% in the first quarter. Naples Global Advisors LLC now owns 8,224 shares of the footwear maker’s stock worth $525,000 after purchasing an additional 1,152 shares in the last quarter. Finally, Curat Global LLC bought a new position in shares of NIKE in the first quarter worth $119,000. 64.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Piper Sandler set a $84.00 price target on NIKE and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup raised NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Deutsche Bank Aktiengesellschaft decreased their price target on NIKE from $77.00 to $71.00 and set a “buy” rating for the company in a research note on Friday, June 20th. Stifel Nicolaus set a $68.00 price target on NIKE and gave the stock a “hold” rating in a research note on Wednesday. Finally, Bank of America raised their target price on NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.57.

NIKE Trading Down 3.4%

Shares of NYSE NKE opened at $72.01 on Friday. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $84.76. The company has a market cap of $106.34 billion, a price-to-earnings ratio of 36.93, a P/E/G ratio of 2.65 and a beta of 1.29. The company has a quick ratio of 1.50, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $74.62 and a 200-day simple moving average of $67.27.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the prior year, the business posted $0.70 earnings per share. NIKE’s revenue was up 1.0% compared to the same quarter last year. Sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio is currently 82.05%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.80% of the stock is currently owned by corporate 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.