AlphaCore Capital LLC Buys Shares of 2,151 NIKE, Inc. $NKE

AlphaCore Capital LLC purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,151 shares of the footwear maker’s stock, valued at approximately $154,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Goldman Sachs Group Inc. increased its holdings in NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Wellington Management Group LLP lifted its stake in NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares in the last quarter. Nuveen LLC acquired a new position in NIKE during the first quarter worth $502,285,000. Vanguard Group Inc. boosted its position in shares of NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after buying an additional 4,957,494 shares during the period. Finally, Generation Investment Management LLP acquired a new stake in shares of NIKE in the first quarter valued at $215,768,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other NIKE news, Director Jorgen Vig Knudstorp bought 16,150 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the purchase, the director directly owned 21,388 shares in the company, valued at $1,327,980.92. This trade represents a 308.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $64.80, for a total value of $5,577,854.40. Following the completion of the transaction, the chairman directly owned 647,615 shares of the company’s stock, valued at $41,965,452. This trade represents a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.80% of the company’s stock.

NIKE Price Performance

NIKE stock opened at $63.68 on Wednesday. The stock has a market cap of $94.14 billion, a P/E ratio of 32.66, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The company has a fifty day simple moving average of $66.96 and a 200-day simple moving average of $69.05. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last posted 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 firm had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. NIKE’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, December 1st. This is an increase from NIKE’s previous quarterly dividend of $0.40. NIKE’s dividend payout ratio (DPR) is currently 84.10%.

Wall Street Analyst Weigh In

NKE has been the topic of several research analyst reports. Barclays set a $70.00 price objective on NIKE and gave the company a “positive” rating in a report on Wednesday, October 1st. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Truist Financial reiterated a “buy” rating and set a $85.00 price target on shares of NIKE in a research note on Wednesday, October 1st. The Goldman Sachs Group set a $85.00 price objective on shares of NIKE and gave the company a “buy” rating in a research note on Thursday, September 25th. Finally, DZ Bank upgraded shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $82.24.

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.