Bar Harbor Wealth Management Has $5.90 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Bar Harbor Wealth Management increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 198.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,863 shares of the footwear maker’s stock after buying an additional 61,737 shares during the quarter. Bar Harbor Wealth Management’s holdings in NIKE were worth $5,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock worth $196,901,000 after acquiring an additional 2,416,601 shares in the last quarter. Capitolis Liquid Global Markets LLC lifted its stake in shares of NIKE by 40.9% in the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker’s stock valued at $23,458,000 after purchasing an additional 90,000 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker’s stock worth $460,160,000 after purchasing an additional 463,470 shares in the last quarter. Markel Group Inc. increased its position in NIKE by 0.8% during the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker’s stock worth $32,720,000 after buying an additional 3,500 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in NIKE by 3.3% during the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker’s stock valued at $18,042,000 after buying an additional 7,536 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

NYSE:NKE opened at $62.81 on Friday. The company has a market capitalization of $92.90 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21. The business has a 50 day moving average of $59.23 and a 200 day moving average of $68.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same period in the prior year, the business posted $0.98 EPS. NIKE’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is 53.16%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Truist Financial lowered their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Bank of America lowered their price target on NIKE from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Robert W. Baird dropped their price objective on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Cfra Research upgraded NIKE to a “moderate buy” rating in a research note on Friday, March 21st. Finally, Stifel Nicolaus dropped their price target on NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $80.26.

Insider Buying and Selling

In other news, Director Robert Holmes Swan acquired 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

NIKE 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.