NIKE, Inc. $NKE Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 83.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 50,759 shares of the footwear maker’s stock after acquiring an additional 23,110 shares during the quarter. Edgestream Partners L.P.’s holdings in NIKE were worth $3,606,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Mascoma Wealth Management LLC acquired a new stake in shares of NIKE during the second quarter worth about $26,000. Stone House Investment Management LLC acquired a new position in NIKE in the 1st quarter worth approximately $25,000. Halbert Hargrove Global Advisors LLC raised its position in NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after buying an additional 362 shares during the last quarter. Matrix Trust Co lifted its stake in NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares during the period. Finally, Saudi Central Bank acquired a new stake in NIKE during the 1st quarter valued at approximately $30,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NKE. Piper Sandler set a $84.00 price objective on shares of NIKE and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Barclays set a $70.00 price target on NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. The Goldman Sachs Group set a $85.00 price objective on NIKE and gave the company a “buy” rating in a report on Thursday, September 25th. Morgan Stanley set a $72.00 target price on NIKE and gave the stock a “positive” rating in a research note on Wednesday, October 1st. Finally, Zacks Research upgraded NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Three 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 has an average rating of “Moderate Buy” and a consensus target price of $82.24.

Insider Buying and Selling

In related news, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 16,150 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were bought at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the acquisition, the director owned 21,388 shares of the company’s stock, valued at approximately $1,327,980.92. This represents a 308.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.80% of the stock is owned by insiders.

NIKE Price Performance

Shares of NIKE stock opened at $65.65 on Thursday. The firm has a market cap of $97.05 billion, a PE ratio of 33.67, a P/E/G ratio of 2.32 and a beta of 1.29. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $66.18 and a 200 day moving average price of $69.10.

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

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.64 dividend on an annualized basis and a yield of 2.5%. This is an increase from NIKE’s previous quarterly dividend of $0.40. NIKE’s dividend payout ratio is 84.10%.

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.