Global Retirement Partners LLC Buys Shares of 22,372 NIKE, Inc. $NKE

Global Retirement Partners LLC purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 22,372 shares of the footwear maker’s stock, valued at approximately $1,589,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in NIKE by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 113,823,785 shares of the footwear maker’s stock worth $8,086,042,000 after purchasing an additional 672,705 shares during the last quarter. Wellington Management Group LLP boosted 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 during the period. Goldman Sachs Group Inc. grew its holdings in NIKE by 344.2% in the 1st 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 in the last quarter. Flossbach Von Storch SE grew its holdings in NIKE by 9.5% in the 2nd quarter. Flossbach Von Storch SE now owns 11,265,390 shares of the footwear maker’s stock worth $800,293,000 after buying an additional 978,771 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in NIKE by 4.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 9,951,767 shares of the footwear maker’s stock valued at $707,550,000 after acquiring an additional 444,517 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of several recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of NIKE in a research note on Friday, October 10th. Wells Fargo & Company upgraded shares of NIKE from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $75.00 in a research note on Thursday, November 13th. TD Cowen raised shares of NIKE from a “hold” rating to a “buy” rating and upped their price objective for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. Sanford C. Bernstein reiterated a “buy” rating and issued a $90.00 target price on shares of NIKE in a research report on Monday, October 13th. Finally, BTIG Research began coverage on shares of NIKE in a research report on Tuesday, October 14th. They set a “buy” rating and a $100.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.24.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $64.80, for a total value of $5,577,854.40. Following the transaction, the chairman owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. This represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.80% of the stock is owned by corporate insiders.

NIKE Price Performance

Shares of NIKE stock opened at $64.45 on Thursday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The stock has a market cap of $95.27 billion, a PE ratio of 33.05, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The company’s 50-day moving average price is $66.80 and its two-hundred day moving average price is $69.01.

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

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.5%. This is a positive change from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, December 1st. NIKE’s dividend payout ratio (DPR) is presently 84.10%.

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.