Welch Group LLC Buys Shares of 2,519 NIKE, Inc. (NYSE:NKE)

Welch Group LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,519 shares of the footwear maker’s stock, valued at approximately $223,000.

Other large investors have also modified their holdings of the company. Transcendent Capital Group LLC increased its stake in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares during the period. VitalStone Financial LLC increased its position in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Bruce G. Allen Investments LLC raised its stake in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in NIKE during the 2nd quarter worth $44,000. Finally, Riverview Trust Co bought a new position in shares of NIKE in the third quarter worth $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NKE shares. Piper Sandler restated a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. JPMorgan Chase & Co. dropped their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. UBS Group increased their price objective on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Finally, Robert W. Baird increased their price target on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Stock Up 0.5 %

NIKE stock traded up $0.40 during mid-day trading on Monday, hitting $79.25. The company’s stock had a trading volume of 1,229,871 shares, compared to its average volume of 11,556,381. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a market cap of $119.62 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm’s 50 day moving average is $82.71 and its 200 day moving average is $84.91.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same period in the prior year, the firm earned $0.94 earnings per share. The firm’s revenue was down 10.4% compared to the same quarter last year. On average, analysts anticipate that NIKE, Inc. will post 2.78 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by company insiders.

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.