Fiduciary Group LLC Buys 2,895 Shares of NIKE, Inc. (NYSE:NKE)

Fiduciary Group LLC lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,868 shares of the footwear maker’s stock after purchasing an additional 2,895 shares during the quarter. Fiduciary Group LLC’s holdings in NIKE were worth $3,457,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in NIKE by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after acquiring an additional 501,792 shares in the last quarter. Capital International Investors lifted its position in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after buying an additional 7,143,775 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Norges Bank purchased a new position in NIKE in the fourth quarter worth $1,315,097,000. Finally, Fisher Asset Management LLC increased its position in shares of NIKE by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock valued at $1,072,676,000 after purchasing an additional 211,360 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Activity

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

NIKE Stock Up 0.8 %

Shares of NYSE:NKE opened at $79.01 on Friday. The firm has a market capitalization of $118.46 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The firm has a fifty day moving average of $77.23 and a 200 day moving average of $87.88.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. As a group, research analysts anticipate that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.87%. NIKE’s payout ratio is 39.68%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Guggenheim cut their price target on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Barclays downgraded shares of NIKE from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $109.00 to $80.00 in a research report on Friday, June 28th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Piper Sandler reissued a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research report on Friday, August 23rd. Finally, Truist Financial dropped their price target on NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Fourteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $95.59.

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.