NIKE, Inc. $NKE Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 697.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,889 shares of the footwear maker’s stock after buying an additional 200,187 shares during the period. Exchange Traded Concepts LLC’s holdings in NIKE were worth $15,960,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Mascoma Wealth Management LLC acquired a new position in shares of NIKE during the 2nd quarter valued at $26,000. Halbert Hargrove Global Advisors LLC raised its position in NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the period. Saudi Central Bank purchased a new position in NIKE in the first quarter valued at about $30,000. Matrix Trust Co lifted its stake in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of NIKE in the second quarter worth about $31,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NKE. Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, December 15th. Piper Sandler set a $75.00 price objective on shares of NIKE and gave the company an “overweight” rating in a research note on Friday. Truist Financial set a $70.00 target price on shares of NIKE and gave the stock a “buy” rating in a research report on Friday. Bank of America lowered their price target on shares of NIKE from $84.00 to $73.00 and set a “buy” rating for the company in a report on Friday. Finally, Stifel Nicolaus set a $65.00 price objective on shares of NIKE and gave the stock a “hold” rating in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $78.14.

NIKE Stock Down 2.4%

Shares of NYSE:NKE opened at $57.28 on Tuesday. The firm has a market cap of $84.66 billion, a PE ratio of 33.69, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28. The company has a fifty day simple moving average of $64.85 and a 200 day simple moving average of $69.45. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The firm had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The company 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. This represents a $1.64 dividend on an annualized basis and a yield of 2.9%. This is a positive change from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, December 1st. NIKE’s payout ratio is 96.47%.

Insider Activity at NIKE

In other news, Director Jorgen Vig Knudstorp acquired 16,150 shares of the business’s stock in a transaction on Friday, November 7th. The shares were 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 of the company’s stock, valued at $1,327,980.92. This represents a 308.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $64.80, for a total value 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. 0.80% of the stock is owned by corporate insiders.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).