Analyst IMS Investment Management Services Ltd. Purchases 122 Shares of NIKE, Inc. (NYSE:NKE)

Analyst IMS Investment Management Services Ltd. raised its position in shares of NIKE, Inc. (NYSE:NKE) by 1.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,729 shares of the footwear maker’s stock after purchasing an additional 122 shares during the quarter. Analyst IMS Investment Management Services Ltd.’s holdings in NIKE were worth $1,165,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of NIKE in the fourth quarter worth approximately $1,315,097,000. Newport Trust Company LLC bought a new stake in shares of NIKE in the third quarter worth approximately $679,775,000. Van ECK Associates Corp grew its stake in shares of NIKE by 117.0% in the third quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker’s stock worth $285,564,000 after acquiring an additional 1,610,273 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of NIKE by 37.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock worth $553,786,000 after acquiring an additional 1,583,541 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in NIKE during the third quarter valued at approximately $97,724,000. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 target price (down from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Robert W. Baird cut their target price on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Wedbush restated an “outperform” rating and set a $115.00 target price on shares of NIKE in a research report on Tuesday, April 30th. Telsey Advisory Group cut their target price on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Finally, Truist Financial reaffirmed a “hold” rating and set a $111.00 price target on shares of NIKE in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $116.26.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 213,660 shares of company stock worth $19,946,333. Insiders own 0.50% of the company’s stock.

NIKE Trading Up 0.4 %

NKE stock traded up $0.35 during mid-day trading on Friday, reaching $91.75. 6,937,118 shares of the stock traded hands, compared to its average volume of 8,322,999. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE, Inc. has a one year low of $88.66 and a one year high of $123.39. The stock has a market capitalization of $138.48 billion, a PE ratio of 26.99, a PEG ratio of 1.77 and a beta of 1.07. The business has a 50-day moving average price of $93.16 and a two-hundred day moving average price of $101.83.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. Equities research analysts expect that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s payout ratio is presently 43.53%.

NIKE Company 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.