NIKE, Inc. $NKE Shares Bought by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC increased its holdings in NIKE, Inc. (NYSE:NKE) by 6.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,304 shares of the footwear maker’s stock after purchasing an additional 277 shares during the quarter. Trueblood Wealth Management LLC’s holdings in NIKE were worth $306,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mascoma Wealth Management LLC acquired a new position in NIKE in the 2nd quarter worth about $26,000. Stone House Investment Management LLC acquired a new position in NIKE in the 1st quarter worth about $25,000. Halbert Hargrove Global Advisors LLC raised its holdings in NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the period. Matrix Trust Co raised its holdings in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares during the period. Finally, Saudi Central Bank purchased a new stake in NIKE during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the subject of several research reports. Cowen upgraded NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Truist Financial reiterated a “buy” rating and set a $85.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Citigroup upgraded NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Barclays set a $70.00 price objective on NIKE and gave the stock a “positive” rating in a research note on Wednesday, October 1st. Finally, Hsbc Global Res upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $81.57.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.80% of the company’s stock.

NIKE Stock Performance

NYSE NKE opened at $71.25 on Tuesday. The stock’s fifty day moving average is $74.46 and its two-hundred day moving average is $67.26. The firm has a market capitalization of $105.23 billion, a P/E ratio of 36.54, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 earnings per share. On average, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. NIKE’s payout ratio is 82.05%.

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.