Johnson Financial Group Inc. Has $340,000 Holdings in NIKE, Inc. $NKE

Johnson Financial Group Inc. trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 38.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,754 shares of the footwear maker’s stock after selling 2,934 shares during the quarter. Johnson Financial Group Inc.’s holdings in NIKE were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Aristides Capital LLC acquired a new position in shares of NIKE in the 2nd quarter worth approximately $3,197,000. Korea Investment CORP raised its position in NIKE by 45.4% in the 2nd quarter. Korea Investment CORP now owns 1,066,587 shares of the footwear maker’s stock valued at $75,770,000 after purchasing an additional 332,967 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its stake in NIKE by 1.9% in the second quarter. Elevation Point Wealth Partners LLC now owns 44,416 shares of the footwear maker’s stock worth $3,155,000 after purchasing an additional 807 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in NIKE by 188.6% in the second quarter. Quadrant Capital Group LLC now owns 19,824 shares of the footwear maker’s stock worth $1,408,000 after purchasing an additional 12,954 shares in the last quarter. Finally, OPTIMAS CAPITAL Ltd bought a new stake in shares of NIKE during the second quarter worth $1,627,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NKE. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $90.00 price target on shares of NIKE in a report on Monday, October 13th. Truist Financial restated a “buy” rating and issued a $85.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. Piper Sandler set a $84.00 target price on shares of NIKE and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. DZ Bank upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. Finally, Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.24.

NIKE Stock Up 0.8%

Shares of NYSE NKE opened at $64.84 on Friday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The firm’s 50-day moving average is $66.53 and its 200-day moving average is $69.00. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $95.84 billion, a PE ratio of 33.25, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share 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 business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same period in the prior year, the business posted $0.70 earnings per share. NIKE’s revenue was up 1.0% compared to the same quarter last year. Equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, December 1st. NIKE’s payout ratio is presently 84.10%.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp acquired 16,150 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the acquisition, the director owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This trade represents a 308.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $64.80, for a total value of $5,577,854.40. Following the transaction, the chairman owned 647,615 shares in the company, valued at approximately $41,965,452. This trade represents a 11.73% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is owned by insiders.

About NIKE

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.