NIKE, Inc. (NYSE:NKE) Shares Purchased by Capital Group Investment Management PTE. LTD.

Capital Group Investment Management PTE. LTD. raised its position in NIKE, Inc. (NYSE:NKE) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,658 shares of the footwear maker’s stock after purchasing an additional 623 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in NIKE were worth $2,698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NKE. JNBA Financial Advisors raised its stake in NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after acquiring an additional 131 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in shares of NIKE by 0.7% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after purchasing an additional 136 shares during the period. Elgethun Capital Management raised its stake in shares of NIKE by 13.7% during the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock valued at $94,000 after purchasing an additional 149 shares in the last quarter. GAMMA Investing LLC lifted its holdings in NIKE by 1.0% in the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock worth $1,136,000 after purchasing an additional 150 shares during the period. Finally, Game Plan Financial Advisors LLC grew its position in NIKE by 11.1% in the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock valued at $114,000 after buying an additional 150 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on NKE shares. Robert W. Baird dropped their price target on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Morgan Stanley cut their target price on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. BMO Capital Markets decreased their price target on NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Needham & Company LLC dropped their price objective on NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Finally, Piper Sandler decreased their target price on NIKE from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Sixteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $85.15.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert Holmes Swan purchased 8,600 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

NIKE Trading Up 4.1 %

NYSE:NKE opened at $55.73 on Friday. The stock has a market cap of $82.44 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock’s 50-day moving average is $68.71 and its two-hundred day moving average is $74.09.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. As a group, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

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.