GSB Wealth Management LLC Buys 2,310 Shares of NIKE, Inc. (NYSE:NKE)

GSB Wealth Management LLC grew its stake in NIKE, Inc. (NYSE:NKE) by 37.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,549 shares of the footwear maker’s stock after purchasing an additional 2,310 shares during the quarter. GSB Wealth Management LLC’s holdings in NIKE were worth $543,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NKE. Norges Bank purchased a new stake in shares of NIKE in the 4th quarter worth about $1,126,288,000. Wellington Management Group LLP grew its position in shares of NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after buying an additional 8,898,591 shares during the period. Bank of New York Mellon Corp grew its position in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after buying an additional 3,121,929 shares during the period. Renaissance Technologies LLC grew its position in shares of NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock worth $196,901,000 after buying an additional 2,416,601 shares during the period. Finally, Capital World Investors grew its position in shares of NIKE by 10.3% in the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after buying an additional 2,288,627 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan bought 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. UBS Group cut their price objective on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Cfra Research raised shares of NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Piper Sandler cut their price objective on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Robert W. Baird cut their price objective on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Finally, Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $79.93.

NIKE Stock Performance

NKE opened at $60.02 on Wednesday. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. The company has a market cap of $88.77 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 2.14 and a beta of 1.21. The company’s 50 day moving average is $59.57 and its 200 day moving average is $68.42. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The firm’s revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. On average, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s payout ratio is 53.16%.

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.