Fayez Sarofim & Co Purchases 8,360 Shares of NIKE, Inc. (NYSE:NKE)

Fayez Sarofim & Co increased its position in NIKE, Inc. (NYSE:NKE) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,209,863 shares of the footwear maker’s stock after purchasing an additional 8,360 shares during the quarter. Fayez Sarofim & Co owned approximately 0.15% of NIKE worth $167,220,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

NKE has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $75.00 to $115.00 in a report on Monday, February 24th. Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Truist Financial reduced their price target on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Sixteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.15.

NIKE Stock Up 4.1 %

Shares of NKE opened at $55.73 on Monday. The business’s 50 day simple moving average is $68.39 and its 200-day simple moving average is $73.73. NIKE, Inc. has a 1 year low of $52.28 and a 1 year 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 has a market capitalization of $82.44 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

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

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Monday, March 3rd. NIKE’s dividend payout ratio is currently 53.16%.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The stock was 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 owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate 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.