Jeppson Wealth Management LLC Makes New $206,000 Investment in NIKE, Inc. $NKE

Jeppson Wealth Management LLC acquired a new stake in NIKE, Inc. (NYSE:NKE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,903 shares of the footwear maker’s stock, valued at approximately $206,000.

Several other large investors also recently modified their holdings of NKE. Vanguard Group Inc. increased its holdings in NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares during the last quarter. Wellington Management Group LLP grew its position in shares of NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after buying an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after buying an additional 20,688,013 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in NIKE by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock valued at $1,332,331,000 after acquiring an additional 620,214 shares in the last quarter. Finally, Flossbach Von Storch SE raised its holdings in NIKE by 24.0% in the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock valued at $652,995,000 after acquiring an additional 1,988,547 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Up 0.4%

NYSE:NKE opened at $71.21 on Thursday. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average of $75.12 and a 200-day moving average of $67.43. The firm has a market capitalization of $105.17 billion, a PE ratio of 32.97, a price-to-earnings-growth ratio of 2.58 and a beta of 1.24. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping 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 business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter last year, the business posted $0.99 EPS. The business’s revenue was down 11.9% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE’s payout ratio is 74.07%.

Analyst Ratings Changes

NKE has been the subject of several research analyst reports. HSBC raised shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Friday, June 27th. Barclays lifted their price target on NIKE from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 18th. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and upped their price objective for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. Piper Sandler increased their target price on NIKE from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, June 27th. Finally, DZ Bank lowered NIKE from a “buy” rating to a “hold” rating and set a $76.00 target price for the company. in a research report on Thursday, July 10th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $79.46.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated 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 sale, the chairman owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.

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.