NIKE, Inc. $NKE Shares Purchased by First Trust Advisors LP

First Trust Advisors LP grew its position in NIKE, Inc. (NYSE:NKE) by 30.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 397,457 shares of the footwear maker’s stock after acquiring an additional 92,993 shares during the period. First Trust Advisors LP’s holdings in NIKE were worth $20,994,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Financial Management LLC purchased a new stake in shares of NIKE during the fourth quarter worth $26,000. Sankala Group LLC acquired a new stake in NIKE in the fourth quarter valued at approximately $26,000. J.Safra Asset Management Corp acquired a new stake in NIKE in the fourth quarter valued at approximately $29,000. Kemnay Advisory Services Inc. purchased a new stake in shares of NIKE in the 4th quarter valued at approximately $30,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of NIKE in the 1st quarter valued at $25,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 0.4%

NKE opened at $43.22 on Thursday. The firm has a market cap of $64.12 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 1.91 and a beta of 1.12. NIKE, Inc. has a 52 week low of $40.00 and a 52 week high of $80.17. The business’s 50 day moving average is $43.66 and its two-hundred day moving average is $50.59. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 earnings per share. On average, research analysts predict that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were given a $0.41 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.8%. NIKE’s dividend payout ratio is 78.47%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wells Fargo & Company dropped their target price on NIKE from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 1st. Barclays dropped their price objective on NIKE from $67.00 to $52.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Truist Financial decreased their target price on NIKE from $69.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft increased their price target on shares of NIKE from $43.00 to $45.00 and gave the company a “hold” rating in a research note on Friday, July 17th. Finally, Guggenheim restated a “buy” rating and set a $60.00 price objective (down from $74.00) on shares of NIKE in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $53.74.

Insider Buying and Selling

In related news, EVP Philip Mccartney sold 17,398 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president owned 53,133 shares in the company, valued at $2,453,681.94. This represents a 24.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.10% of the stock is currently owned by company insiders.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).