5,670 Shares in NIKE, Inc. (NYSE:NKE) Purchased by Verity & Verity LLC

Verity & Verity LLC bought a new position in NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,670 shares of the footwear maker’s stock, valued at approximately $429,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP increased its position in NIKE by 5.1% in the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after buying an additional 1,343,093 shares during the period. Geode Capital Management LLC lifted its stake in NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after buying an additional 251,411 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after acquiring an additional 571,544 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after acquiring an additional 583,207 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NKE has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $72.00 to $90.00 in a report on Friday, January 10th. Jefferies Financial Group increased their price objective on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Bank of America cut their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Evercore ISI decreased their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Trading Down 0.3 %

Shares of NYSE NKE opened at $70.89 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The company has a market cap of $104.85 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02. The business has a fifty day simple moving average of $75.87 and a 200-day simple moving average of $77.96.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. Sell-side analysts predict that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is presently 49.38%.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.

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.