NIKE, Inc. $NKE Shares Purchased by Jacobi Capital Management LLC

Jacobi Capital Management LLC raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 17.0% in the 1st quarter, Holdings Channel reports. The firm owned 12,588 shares of the footwear maker’s stock after purchasing an additional 1,830 shares during the quarter. Jacobi Capital Management LLC’s holdings in NIKE were worth $799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new stake in NIKE during the first quarter valued at $25,000. Heck Capital Advisors LLC bought a new stake in NIKE during the fourth quarter valued at $28,000. Saudi Central Bank bought a new stake in NIKE during the first quarter valued at $30,000. Roxbury Financial LLC increased its stake in NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock valued at $37,000 after purchasing an additional 201 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in NIKE during the first quarter valued at $37,000. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the subject of several recent research reports. Evercore ISI lowered their target price on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, June 24th. Hsbc Global Res upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 27th. UBS Group began coverage on shares of NIKE in a research note on Sunday, July 6th. They set a “buy” rating for the company. Truist Financial lowered their price target on shares of NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, June 24th. Finally, Jefferies Financial Group restated a “buy” rating and set a $115.00 price target on shares of NIKE in a research report on Friday, August 22nd. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.67.

NIKE Stock Down 1.6%

NIKE stock opened at $73.12 on Friday. The company has a 50-day simple moving average of $75.40 and a 200-day simple moving average of $67.81. The firm has a market capitalization of $107.98 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.70 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62.

NIKE (NYSE:NKE) last released 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 analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 earnings per share. As a group, equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

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

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated 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 completion of the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.80% of the stock is owned by corporate insiders.

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.