NIKE, Inc. $NKE Shares Bought by RFG Advisory LLC

RFG Advisory LLC grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,292 shares of the footwear maker’s stock after acquiring an additional 546 shares during the period. RFG Advisory LLC’s holdings in NIKE were worth $731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NKE. Goldman Sachs Group Inc. lifted its position in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Wellington Management Group LLP raised its position in shares of NIKE by 24.9% during the 1st 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. Jennison Associates LLC acquired a new position in shares of NIKE during the 1st quarter worth approximately $509,051,000. Nuveen LLC acquired a new position in shares of NIKE during the 1st quarter worth approximately $502,285,000. Finally, Vanguard Group Inc. raised its position in shares of NIKE by 4.6% during the 1st 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. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Up 0.9%

Shares of NYSE NKE opened at $67.46 on Friday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $83.95. The firm has a fifty day moving average of $73.10 and a 200-day moving average of $67.38. The stock has a market capitalization of $99.72 billion, a PE ratio of 34.59, a P/E/G ratio of 2.46 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same period in the previous year, the company earned $0.70 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. NIKE’s payout ratio is currently 82.05%.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NKE shares. Morgan Stanley set a $72.00 price objective on NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 price target on shares of NIKE in a report on Monday, September 29th. Piper Sandler set a $84.00 price target on NIKE and gave the company an “overweight” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. boosted their price target on NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. Finally, Evercore ISI cut their price target on NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday, June 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.21.

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.