NIKE, Inc. $NKE Shares Purchased by Confluence Investment Management LLC

Confluence Investment Management LLC boosted its position in NIKE, Inc. (NYSE:NKE) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 248,154 shares of the footwear maker’s stock after purchasing an additional 1,224 shares during the period. Confluence Investment Management LLC’s holdings in NIKE were worth $17,629,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NKE. Stone House Investment Management LLC acquired a new stake in NIKE in the first quarter worth approximately $25,000. Heck Capital Advisors LLC acquired a new stake in NIKE in the fourth quarter worth approximately $28,000. Saudi Central Bank acquired a new stake in NIKE in the first quarter worth approximately $30,000. Roxbury Financial LLC lifted its position in NIKE by 52.1% in the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock worth $37,000 after purchasing an additional 201 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of NIKE during the 1st quarter valued at $37,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.80% of the company’s stock.

NIKE Price Performance

NKE opened at $73.12 on Friday. The stock has a fifty day moving average of $75.40 and a 200-day moving average of $67.81. The firm has a market capitalization of $107.98 billion, a P/E ratio of 33.85, a PEG ratio of 2.70 and a beta of 1.24. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The company’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 earnings per share. Equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. NIKE’s dividend payout ratio is presently 74.07%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NKE. Argus upgraded NIKE to a “buy” rating in a research report on Sunday, July 6th. Citigroup increased their price objective on NIKE from $57.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, June 27th. Truist Financial cut their price objective on NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, June 24th. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, The Goldman Sachs Group increased their price objective on NIKE from $72.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.67.

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.