Atlantic Union Bankshares Corp Has $6.41 Million Stock Position in NIKE, Inc. $NKE

Atlantic Union Bankshares Corp increased its holdings in NIKE, Inc. (NYSE:NKE) by 47.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,883 shares of the footwear maker’s stock after acquiring an additional 29,492 shares during the period. Atlantic Union Bankshares Corp’s holdings in NIKE were worth $6,407,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NKE. Norges Bank purchased a new position in shares of NIKE during the second quarter valued at approximately $835,063,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in NIKE by 3,129.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,091,426 shares of the footwear maker’s stock valued at $645,855,000 after buying an additional 8,809,950 shares during the last quarter. Harris Associates L P bought a new position in NIKE during the 2nd quarter valued at $621,525,000. Invesco Ltd. boosted its holdings in 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 acquiring an additional 4,840,114 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of NIKE by 42.3% in the 3rd quarter. Jennison Associates LLC now owns 11,838,528 shares of the footwear maker’s stock worth $825,501,000 after acquiring an additional 3,518,666 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Robert W. Baird dropped their price target on shares of NIKE from $93.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, December 19th. JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $100.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Oppenheimer reissued an “outperform” rating on shares of NIKE in a research report on Wednesday, December 17th. KeyCorp reduced their target price on NIKE from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Finally, Telsey Advisory Group dropped their price target on NIKE from $75.00 to $72.00 and set a “market perform” rating on the stock in a report on Friday, December 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.61.

Insiders Place Their Bets

In other NIKE news, CEO Elliott Hill purchased 16,388 shares of the stock in a transaction dated Monday, December 29th. The shares were bought at an average price of $61.10 per share, with a total value of $1,001,306.80. Following the completion of the transaction, the chief executive officer directly owned 241,587 shares in the company, valued at approximately $14,760,965.70. This trade represents a 7.28% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired 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 represents a 308.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 91,229 shares of company stock worth $5,452,640 in the last ninety days. 0.80% of the stock is owned by corporate insiders.

NIKE Trading Up 0.6%

NYSE:NKE opened at $62.19 on Tuesday. 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 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average is $63.97 and its 200 day moving average is $68.57. The stock has a market capitalization of $92.06 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 3.16 and a beta of 1.27.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.19 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the business posted $0.78 earnings per share. Sell-side analysts expect 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 was paid on Friday, January 2nd. Investors of record on Monday, December 1st were paid a $0.41 dividend. The ex-dividend date was Monday, December 1st. This represents a $1.64 dividend on an annualized basis and a yield of 2.6%. This is an increase from NIKE’s previous quarterly dividend of $0.40. NIKE’s dividend payout ratio (DPR) is presently 96.47%.

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).