361,519 Shares in NIKE, Inc. $NKE Purchased by Troy Asset Management Ltd

Troy Asset Management Ltd acquired a new position in NIKE, Inc. (NYSE:NKE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 361,519 shares of the footwear maker’s stock, valued at approximately $25,682,000. NIKE accounts for about 0.7% of Troy Asset Management Ltd’s portfolio, making the stock its 24th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Soros Fund Management LLC boosted its position in NIKE by 33.0% during the 2nd quarter. Soros Fund Management LLC now owns 302,320 shares of the footwear maker’s stock valued at $21,477,000 after buying an additional 75,000 shares during the period. Soltis Investment Advisors LLC boosted its holdings in shares of NIKE by 238.8% during the second quarter. Soltis Investment Advisors LLC now owns 141,356 shares of the footwear maker’s stock worth $10,042,000 after purchasing an additional 99,638 shares during the period. Banco Santander S.A. grew its stake in shares of NIKE by 28.3% in the second quarter. Banco Santander S.A. now owns 221,117 shares of the footwear maker’s stock worth $15,708,000 after purchasing an additional 48,764 shares during the last quarter. Vanguard Group Inc. increased its holdings in NIKE by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 113,823,785 shares of the footwear maker’s stock valued at $8,086,042,000 after purchasing an additional 672,705 shares during the period. Finally, BROOKFIELD Corp ON increased its holdings in NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after purchasing an additional 175,000 shares during the period. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler set a $84.00 price objective on NIKE and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Needham & Company LLC reiterated a “buy” rating and issued a $78.00 price target on shares of NIKE in a report on Wednesday, October 1st. TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and upped their price objective for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 target price on shares of NIKE in a research report on Friday. Finally, Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $81.10.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of NIKE 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 completion of the transaction, the chairman owned 647,615 shares of the company’s stock, valued at $41,965,452. The trade was a 11.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The shares were 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 in the company, valued at $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.80% of the stock is owned by company insiders.

NIKE Stock Down 0.4%

NYSE:NKE opened at $67.49 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The firm’s 50-day moving average price is $65.40 and its 200-day moving average price is $69.37. The company has a market capitalization of $99.76 billion, a PE ratio of 34.61, a P/E/G ratio of 2.37 and a beta of 1.28. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44.

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, topping analysts’ consensus estimates 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 analysts’ expectations of $10.96 billion. During the same quarter in the prior year, the company earned $0.70 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal 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 given a dividend of $0.41 per share. This is a boost from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. NIKE’s dividend payout ratio is 84.10%.

NIKE 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.