NIKE, Inc. (NYSE:NKE) Shares Purchased by Graypoint LLC

Graypoint LLC raised its holdings in NIKE, Inc. (NYSE:NKE) by 25.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,346 shares of the footwear maker’s stock after buying an additional 1,101 shares during the quarter. Graypoint LLC’s holdings in NIKE were worth $405,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. State Street Corp grew its holdings in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP grew its stake in shares of NIKE by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after buying an additional 1,343,093 shares during the period. Geode Capital Management LLC increased its holdings in shares of NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after buying an additional 251,411 shares during the last quarter. Legal & General Group Plc raised its position in shares of NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares during the period. Finally, Fisher Asset Management LLC grew its position in NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after acquiring an additional 583,207 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NKE. Telsey Advisory Group downgraded NIKE from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $93.00 to $80.00 in a report on Friday, December 20th. Sanford C. Bernstein reduced their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. TD Cowen dropped their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $72.00 to $90.00 in a report on Friday. Finally, Evercore ISI lowered their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Stock Performance

Shares of NKE opened at $71.31 on Friday. The stock has a market capitalization of $105.48 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The business’s fifty day moving average price is $76.29 and its 200 day moving average price is $78.36. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $107.43.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the firm posted $1.03 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities research analysts forecast that NIKE, Inc. will post 2.72 EPS for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.24%. NIKE’s dividend payout ratio is 49.38%.

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.