Saturna Capital Corp Acquires Shares of 105,000 NIKE, Inc. (NYSE:NKE)

Saturna Capital Corp acquired a new stake in NIKE, Inc. (NYSE:NKE) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 105,000 shares of the footwear maker’s stock, valued at approximately $6,665,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after buying an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in NIKE by 10.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock worth $14,447,000 after buying an additional 17,888 shares during the period. Proficio Capital Partners LLC boosted its holdings in NIKE by 6.4% in the 4th quarter. Proficio Capital Partners LLC now owns 21,634 shares of the footwear maker’s stock worth $1,637,000 after buying an additional 1,299 shares during the period. Axxcess Wealth Management LLC boosted its holdings in NIKE by 61.1% in the 4th quarter. Axxcess Wealth Management LLC now owns 10,238 shares of the footwear maker’s stock worth $775,000 after buying an additional 3,883 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in NIKE by 9.2% in the 4th quarter. Advisors Asset Management Inc. now owns 52,703 shares of the footwear maker’s stock worth $3,988,000 after buying an additional 4,421 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of several analyst reports. Williams Trading cut their price target on shares of NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 21st. HSBC upgraded shares of 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. Truist Financial lowered their price objective on shares of NIKE from $82.00 to $73.00 and set a “buy” rating on the stock in a research report on Tuesday, June 24th. Wells Fargo & Company raised their price objective on shares of NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. Finally, Berenberg Bank started coverage on shares of NIKE in a research report on Tuesday, April 15th. They set a “hold” rating and a $58.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.15.

NIKE Stock Up 1.3%

Shares of NIKE stock opened at $73.02 on Friday. The firm’s 50 day moving average price is $65.21 and its 200-day moving average price is $67.29. 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 52-week low of $52.28 and a 52-week high of $90.62. The company has a market cap of $108.00 billion, a P/E ratio of 33.80, a PEG ratio of 2.65 and a beta of 1.25.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same period last year, the business earned $0.99 EPS. NIKE’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE’s payout ratio is presently 74.07%.

NIKE Company 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.