NorthCrest Asset Manangement LLC Buys 383 Shares of NIKE, Inc. (NYSE:NKE)

NorthCrest Asset Manangement LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 12.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,378 shares of the footwear maker’s stock after acquiring an additional 383 shares during the period. NorthCrest Asset Manangement LLC’s holdings in NIKE were worth $299,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of NKE. Longview Partners Guernsey LTD bought a new stake in NIKE during the 1st quarter worth approximately $533,533,000. Capital World Investors grew its position in NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares during the last quarter. Jennison Associates LLC grew its position in NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after acquiring an additional 2,775,510 shares during the last quarter. PineStone Asset Management Inc. grew its position in NIKE by 138.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after acquiring an additional 1,576,049 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in NIKE by 351.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after acquiring an additional 1,550,611 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Stifel Nicolaus reduced their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Wells Fargo & Company upped their price objective on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. JPMorgan Chase & Co. reduced their price objective on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Finally, Morgan Stanley upped their price objective on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Price Performance

NKE stock opened at $78.85 on Monday. The stock has a 50-day moving average price of $82.71 and a two-hundred day moving average price of $84.91. The stock has a market cap of $119.01 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. Equities analysts forecast that NIKE, Inc. will post 2.78 EPS 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 issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insiders Place Their Bets

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

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.