Axa S.A. Purchases 37,987 Shares of NIKE, Inc. $NKE

Axa S.A. raised its position in shares of NIKE, Inc. (NYSE:NKE) by 14.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 305,817 shares of the footwear maker’s stock after acquiring an additional 37,987 shares during the quarter. Axa S.A.’s holdings in NIKE were worth $21,725,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in NIKE during the second quarter worth approximately $835,063,000. Wellington Management Group LLP boosted its holdings in shares of NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after buying an additional 9,043,180 shares in the last quarter. Invesco Ltd. grew its position in shares of NIKE by 66.1% during the 2nd quarter. Invesco Ltd. now owns 12,157,198 shares of the footwear maker’s stock worth $863,647,000 after buying an additional 4,840,114 shares during the period. Generation Investment Management LLP acquired a new stake in shares of NIKE during the 1st quarter worth approximately $215,768,000. Finally, Laurel Wealth Advisors LLC increased its stake in shares of NIKE by 7,295.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,072,506 shares of the footwear maker’s stock valued at $218,271,000 after acquiring an additional 3,030,962 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NIKE stock opened at $65.79 on Thursday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The firm’s 50 day simple moving average is $65.63 and its 200 day simple moving average is $69.23. The firm has a market capitalization of $97.26 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 2.23 and a beta of 1.29. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44.

NIKE (NYSE:NKE) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. As a group, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

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

Insider Transactions at NIKE

In other NIKE news, Director Jorgen Vig Knudstorp acquired 16,150 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was bought at an average price of $62.09 per share, with a total value of $1,002,753.50. Following the purchase, the director owned 21,388 shares of the company’s stock, valued at approximately $1,327,980.92. This trade represents a 308.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the transaction, the chairman directly owned 647,615 shares in the company, valued at approximately $41,965,452. This represents a 11.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research analyst reports. UBS Group reissued a “market perform” rating and set a $75.00 price objective on shares of NIKE in a research report on Wednesday. KeyCorp set a $90.00 target price on shares of NIKE and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Piper Sandler set a $84.00 price objective on NIKE and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. DZ Bank upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, October 1st. Finally, Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $81.10.

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.