NIKE, Inc. $NKE Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. increased its stake in NIKE, Inc. (NYSE:NKE) by 113.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,468 shares of the footwear maker’s stock after acquiring an additional 125,388 shares during the period. Federated Hermes Inc.’s holdings in NIKE were worth $16,728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Stone House Investment Management LLC purchased a new stake in NIKE during the 1st quarter worth about $25,000. Mascoma Wealth Management LLC acquired a new position in shares of NIKE during the second quarter worth about $26,000. Halbert Hargrove Global Advisors LLC increased its stake in shares of NIKE by 952.6% during the second 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 period. Saudi Central Bank purchased a new stake in shares of NIKE during the first quarter worth approximately $30,000. Finally, Matrix Trust Co raised its holdings in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares in the last quarter. 64.25% of the stock is currently 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 stock in a transaction dated Friday, November 7th. The shares were acquired at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the transaction, the director owned 21,388 shares in the company, valued at approximately $1,327,980.92. The trade was a 308.32% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.80% of the company’s stock.

NIKE Stock Performance

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

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. The business had revenue of $11.72 billion during 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%.The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 EPS. Analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, December 1st. This is an increase from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.5%. NIKE’s dividend payout ratio is currently 84.10%.

Analysts Set New Price Targets

Several research analysts have commented on NKE shares. Needham & Company LLC reiterated a “buy” rating and set a $78.00 price target on shares of NIKE in a report on Wednesday, October 1st. Morgan Stanley set a $72.00 target price on shares of NIKE and gave the stock a “positive” rating in a research note on Wednesday, October 1st. Wells Fargo & Company raised NIKE from a “sector perform” rating to an “overweight” rating in a report on Tuesday, December 2nd. KeyCorp set a $90.00 price target on NIKE and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $75.00 price objective on shares of NIKE in a research report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $81.10.

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.