Exchange Traded Concepts LLC Grows Stake in NIKE, Inc. (NYSE:NKE)

Exchange Traded Concepts LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 15.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,141 shares of the footwear maker’s stock after purchasing an additional 3,864 shares during the quarter. Exchange Traded Concepts LLC’s holdings in NIKE were worth $2,488,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new stake in NIKE in the fourth quarter valued at $42,000. Richardson Financial Services Inc. acquired a new stake in shares of NIKE in the 4th quarter valued at about $119,000. SageView Advisory Group LLC grew its stake in NIKE by 192.9% during the 4th quarter. SageView Advisory Group LLC now owns 9,496 shares of the footwear maker’s stock worth $989,000 after buying an additional 6,254 shares during the last quarter. Leo Wealth LLC acquired a new position in NIKE during the fourth quarter worth approximately $423,000. Finally, HighPoint Advisor Group LLC purchased a new stake in NIKE in the fourth quarter valued at approximately $2,137,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

NIKE Trading Down 0.7 %

Shares of NKE stock opened at $81.60 on Tuesday. The stock has a market cap of $123.16 billion, a P/E ratio of 21.88, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The business has a fifty day simple moving average of $81.86 and a 200-day simple moving average of $85.49.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the firm posted $0.94 EPS. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, analysts forecast that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

Analyst Ratings Changes

A number of brokerages have recently commented on NKE. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 target price on shares of NIKE in a report on Friday, September 20th. Robert W. Baird lifted their price objective on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Stifel Nicolaus decreased their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. UBS Group boosted their price target on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, BMO Capital Markets decreased their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

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.