First Manhattan CO. LLC. Buys 156,895 Shares of NIKE, Inc. $NKE

First Manhattan CO. LLC. increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 22.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 849,446 shares of the footwear maker’s stock after buying an additional 156,895 shares during the quarter. First Manhattan CO. LLC.’s holdings in NIKE were worth $54,228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stone House Investment Management LLC bought a new position in shares of NIKE during the 1st quarter worth approximately $25,000. Heck Capital Advisors LLC bought a new position in shares of NIKE during the 4th quarter worth approximately $28,000. Saudi Central Bank bought a new position in shares of NIKE during the 1st quarter worth approximately $30,000. Roxbury Financial LLC lifted its position in shares of NIKE by 52.1% during the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock worth $37,000 after buying an additional 201 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new position in shares of NIKE during the 1st quarter worth approximately $37,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 0.7%

NYSE NKE opened at $77.34 on Monday. The stock has a fifty day moving average of $74.32 and a 200-day moving average of $67.86. The stock has a market capitalization of $114.22 billion, a P/E ratio of 35.81, a price-to-earnings-growth ratio of 2.81 and a beta of 1.24. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.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 firm earned $0.99 EPS. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. NIKE’s payout ratio is 74.07%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Royal Bank Of Canada cut their target price on NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 20th. Truist Financial cut their price objective on NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, June 24th. Citigroup lifted their price objective on NIKE from $57.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, June 27th. Wall Street Zen downgraded NIKE from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. Finally, Argus upgraded NIKE to a “buy” rating in a research report on Sunday, July 6th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $78.22.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares of the company’s stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is currently owned by company insiders.

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.