NIKE, Inc. $NKE Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in NIKE, Inc. (NYSE:NKE) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,823,785 shares of the footwear maker’s stock after buying an additional 672,705 shares during the period. Vanguard Group Inc. owned about 7.71% of NIKE worth $8,086,042,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NKE. Brighton Jones LLC boosted its holdings in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares during the period. Private Advisor Group LLC grew its position in shares of NIKE by 15.9% during the 1st quarter. Private Advisor Group LLC now owns 95,798 shares of the footwear maker’s stock valued at $6,081,000 after buying an additional 13,126 shares during the last quarter. Wealth Alliance LLC raised its stake in NIKE by 141.2% during the first quarter. Wealth Alliance LLC now owns 7,110 shares of the footwear maker’s stock worth $451,000 after acquiring an additional 4,162 shares during the period. Crestwood Advisors Group LLC lifted its holdings in NIKE by 14.9% in the first quarter. Crestwood Advisors Group LLC now owns 26,534 shares of the footwear maker’s stock worth $1,684,000 after acquiring an additional 3,448 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its stake in NIKE by 13.8% in the first quarter. HighPoint Advisor Group LLC now owns 18,567 shares of the footwear maker’s stock valued at $1,179,000 after acquiring an additional 2,245 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Trading Down 0.6%

NIKE stock opened at $62.55 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The firm has a market cap of $92.46 billion, a price-to-earnings ratio of 32.08, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The firm’s 50 day moving average price is $68.05 and its two-hundred day moving average price is $68.89. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating 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 the consensus estimate of $10.96 billion. During the same period in the prior year, the business posted $0.70 earnings per share. NIKE’s revenue was up 1.0% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Piper Sandler set a $84.00 price target on NIKE and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Sanford C. Bernstein reiterated a “buy” rating and issued a $90.00 target price on shares of NIKE in a research note on Monday, October 13th. Barclays set a $70.00 price objective on shares of NIKE and gave the stock a “positive” rating in a report on Wednesday, October 1st. UBS Group set a $71.00 target price on shares of NIKE and gave the company a “neutral” rating in a research note on Friday, September 19th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of NIKE in a research note on Friday, October 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average target price of $82.24.

Insider Transactions at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the transaction, the director directly owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This trade represents a 308.32% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.80% of the stock is currently owned by insiders.

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.