NIKE, Inc. $NKE Shares Acquired by World Investment Advisors

World Investment Advisors raised its position in shares of NIKE, Inc. (NYSE:NKE) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,490 shares of the footwear maker’s stock after acquiring an additional 287 shares during the quarter. World Investment Advisors’ holdings in NIKE were worth $3,942,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mascoma Wealth Management LLC acquired a new position in shares of NIKE during the second quarter valued at approximately $26,000. Stone House Investment Management LLC acquired a new position in shares of NIKE during the first quarter valued at approximately $25,000. Halbert Hargrove Global Advisors LLC raised its holdings in shares of NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 362 shares during the last quarter. Matrix Trust Co raised its holdings in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares during the last quarter. Finally, Saudi Central Bank acquired a new position in shares of NIKE during the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NKE. Needham & Company LLC restated a “buy” rating and issued a $78.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Sanford C. Bernstein restated a “buy” rating and issued a $90.00 price target on shares of NIKE in a research report on Monday, October 13th. The Goldman Sachs Group set a $85.00 price target on NIKE and gave the company a “buy” rating in a research report on Thursday, September 25th. Piper Sandler set a $84.00 price target on NIKE and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Finally, Jefferies Financial Group restated a “buy” rating and set a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.21.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.80% of the company’s stock.

NIKE Trading Down 0.7%

NKE opened at $64.90 on Friday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The business has a fifty day simple moving average of $71.57 and a 200-day simple moving average of $68.15. The firm has a market cap of $95.93 billion, a P/E ratio of 33.28, a P/E/G ratio of 2.41 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

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

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

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.