NIKE, Inc. (NYSE:NKE) Shares Acquired by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 98.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,373 shares of the footwear maker’s stock after buying an additional 56,385 shares during the period. Kovitz Investment Group Partners LLC’s holdings in NIKE were worth $7,197,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NKE. Brighton Jones LLC increased its stake in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG increased its stake in NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock valued at $14,447,000 after buying an additional 17,888 shares during the period. NewEdge Advisors LLC increased its stake in NIKE by 0.3% during the 4th quarter. NewEdge Advisors LLC now owns 71,221 shares of the footwear maker’s stock valued at $5,389,000 after buying an additional 230 shares during the period. Strategic Investment Solutions Inc. IL increased its stake in NIKE by 222.6% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 713 shares of the footwear maker’s stock valued at $54,000 after buying an additional 492 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in NIKE by 51.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,350,889 shares of the footwear maker’s stock valued at $102,222,000 after buying an additional 459,263 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NKE shares. DZ Bank cut shares of NIKE from a “buy” rating to a “hold” rating and set a $76.00 target price on the stock. in a research note on Thursday, July 10th. Piper Sandler lifted their price objective on shares of NIKE from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, June 27th. Williams Trading lowered their price objective on shares of NIKE from $93.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. raised shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $64.00 to $93.00 in a research note on Monday, July 28th. Finally, The Goldman Sachs Group lifted their price objective on shares of NIKE from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus price target of $78.22.

NIKE Stock Performance

NKE stock opened at $77.17 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock has a market cap of $113.97 billion, a P/E ratio of 35.73, a P/E/G ratio of 2.78 and a beta of 1.27. The firm has a 50 day simple moving average of $71.05 and a 200 day simple moving average of $67.69. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share. Research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is presently 74.07%.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.80% of the company’s stock.

NIKE Company 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.