6,369 Shares in NIKE, Inc. $NKE Acquired by Harrell Investment Partners LLC

Harrell Investment Partners LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 6,369 shares of the footwear maker’s stock, valued at approximately $452,000.

Several other institutional investors and hedge funds have also bought and sold shares of NKE. Stone House Investment Management LLC bought a new position in NIKE during the 1st quarter worth approximately $25,000. Heck Capital Advisors LLC bought a new position in NIKE during the 4th quarter worth approximately $28,000. Saudi Central Bank bought a new position in NIKE during the 1st quarter worth approximately $30,000. Matrix Trust Co grew its position in NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in NIKE during the 2nd quarter worth approximately $35,000. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of recent analyst reports. Barclays lifted their price objective on NIKE from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 18th. Evercore ISI cut their price objective on NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 24th. DZ Bank lowered NIKE from a “buy” rating to a “hold” rating and set a $76.00 price objective on the stock. in a research report on Thursday, July 10th. Piper Sandler lifted their price objective on NIKE from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, June 27th. Finally, HSBC upgraded NIKE from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.46.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.80% of the stock is owned by corporate insiders.

NIKE Trading Up 0.4%

NYSE NKE opened at $71.21 on Thursday. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The firm has a market capitalization of $105.17 billion, a PE ratio of 32.97, a P/E/G ratio of 2.58 and a beta of 1.24. The stock’s 50 day moving average is $75.12 and its 200 day moving average is $67.43.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same period in the previous year, the company posted $0.99 earnings per share. The firm’s revenue was down 11.9% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

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

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.