NIKE, Inc. $NKE Shares Acquired by Trust Co of Kansas

Trust Co of Kansas lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 70,917 shares of the footwear maker’s stock after acquiring an additional 631 shares during the period. NIKE accounts for about 2.4% of Trust Co of Kansas’ investment portfolio, making the stock its 20th largest holding. Trust Co of Kansas’ holdings in NIKE were worth $5,038,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of NIKE by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock worth $1,332,331,000 after purchasing an additional 620,214 shares during the last quarter. Finally, Flossbach Von Storch SE boosted its holdings in shares of NIKE by 24.0% during the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock worth $652,995,000 after purchasing an additional 1,988,547 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the sale, the chairman directly owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group set a $71.00 target price on NIKE and gave the company a “neutral” rating in a report on Friday, September 19th. Citigroup upgraded NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. Needham & Company LLC reiterated a “buy” rating and issued a $78.00 target price on shares of NIKE in a report on Wednesday. Piper Sandler set a $84.00 target price on NIKE and gave the company an “overweight” rating in a report on Wednesday. Finally, DZ Bank upgraded NIKE from a “neutral” rating to a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.57.

NIKE Trading Up 6.2%

NYSE:NKE opened at $74.04 on Thursday. The business’s 50-day moving average is $74.73 and its two-hundred day moving average is $67.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $85.23. The firm has a market capitalization of $109.35 billion, a PE ratio of 37.97, a price-to-earnings-growth ratio of 2.60 and a beta of 1.29.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.05% and a net margin of 6.23%.The company had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same period last year, the company posted $0.70 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE’s dividend payout ratio (DPR) is 74.07%.

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.