TRH Financial LLC acquired a new stake in NIKE, Inc. (NYSE:NKE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,771 shares of the footwear maker’s stock, valued at approximately $222,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Sound Income Strategies LLC boosted its position in shares of NIKE by 163.8% in the third quarter. Sound Income Strategies LLC now owns 248 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 154 shares during the period. Demars Financial Group LLC bought a new position in NIKE in the second quarter worth $42,000. U S Global Investors Inc. bought a new position in NIKE in the second quarter worth $53,000. Perennial Advisors LLC bought a new position in NIKE in the first quarter worth $30,000. Finally, Campbell Wealth Management bought a new position in NIKE in the second quarter worth $64,000. 64.20% of the stock is owned by institutional investors.
In other NIKE news, CAO Hilary K. Krane sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $129.53, for a total transaction of $1,424,830.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Andrew Campion sold 5,043 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $97.12, for a total value of $489,776.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 841,962 shares of company stock worth $103,292,012. Company insiders own 3.80% of the company’s stock.
NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 22nd. The footwear maker reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.49. NIKE had a return on equity of 34.62% and a net margin of 7.20%. The firm had revenue of $10.59 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter last year, the business earned $0.27 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. Sell-side analysts predict that NIKE, Inc. will post 2.78 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, August 31st were issued a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Friday, August 28th. NIKE’s dividend payout ratio (DPR) is currently 52.97%.
Several brokerages recently commented on NKE. Telsey Advisory Group raised their target price on NIKE from $110.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, September 18th. Pivotal Research raised their target price on NIKE from $118.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, September 17th. Piper Sandler raised their target price on NIKE from $148.00 to $153.00 and gave the stock an “overweight” rating in a research report on Thursday. Zacks Investment Research upgraded NIKE from a “hold” rating to a “strong-buy” rating and set a $143.00 price objective for the company in a research note on Monday, September 28th. Finally, Sanford C. Bernstein increased their price objective on NIKE from $101.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $137.03.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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