Global Retirement Partners LLC Grows Stake in NIKE, Inc. (NYSE:NKE)

Global Retirement Partners LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,159 shares of the footwear maker’s stock after acquiring an additional 2,289 shares during the quarter. Global Retirement Partners LLC’s holdings in NIKE were worth $1,782,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Ascent Wealth Partners LLC increased its holdings in NIKE by 0.4% in the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after buying an additional 115 shares during the last quarter. Condor Capital Management boosted its stake in NIKE by 0.4% in the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after acquiring an additional 116 shares during the period. Lodestone Wealth Management LLC boosted its stake in NIKE by 5.5% in the first quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after acquiring an additional 118 shares during the period. Nvwm LLC boosted its stake in NIKE by 1.0% in the first quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock valued at $1,091,000 after acquiring an additional 120 shares during the period. Finally, Pitcairn Co. boosted its stake in NIKE by 0.5% in the first quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker’s stock valued at $2,732,000 after acquiring an additional 132 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

NYSE NKE opened at $82.92 on Friday. The stock has a market capitalization of $125.16 billion, a P/E ratio of 22.23, a P/E/G ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The business’s fifty day moving average is $82.64 and its two-hundred day moving average is $85.32. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the prior year, the company earned $0.94 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. On average, research analysts forecast that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.78%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

NKE has been the subject of a number of research reports. Telsey Advisory Group decreased their target price on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. BMO Capital Markets decreased their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. StockNews.com downgraded NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. UBS Group boosted their price objective on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

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.