Norway Savings Bank Grows Holdings in NIKE, Inc. (NYSE:NKE)

Norway Savings Bank grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,055 shares of the footwear maker’s stock after buying an additional 355 shares during the quarter. Norway Savings Bank’s holdings in NIKE were worth $1,415,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NKE. Eagle Asset Management Inc. boosted its holdings in shares of NIKE by 33.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 6,559 shares of the footwear maker’s stock worth $627,000 after purchasing an additional 1,648 shares in the last quarter. Mather Group LLC. boosted its stake in shares of NIKE by 14.1% in the 3rd quarter. Mather Group LLC. now owns 11,194 shares of the footwear maker’s stock valued at $1,070,000 after purchasing an additional 1,386 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of NIKE by 6.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 72,376 shares of the footwear maker’s stock valued at $6,921,000 after purchasing an additional 4,662 shares during the last quarter. Bank of Nova Scotia lifted its stake in NIKE by 121.0% in the third quarter. Bank of Nova Scotia now owns 612,510 shares of the footwear maker’s stock worth $58,565,000 after purchasing an additional 335,407 shares during the last quarter. Finally, Morningstar Investment Services LLC boosted its position in NIKE by 1,743.3% during the third quarter. Morningstar Investment Services LLC now owns 42,765 shares of the footwear maker’s stock valued at $3,833,000 after buying an additional 40,445 shares during the period. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NKE shares. Piper Sandler lowered their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Stifel Nicolaus restated a “hold” rating and issued a $88.00 target price (down previously from $117.00) on shares of NIKE in a report on Friday. Truist Financial lowered their price target on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $115.00 price target on shares of NIKE in a report on Thursday, June 13th. Finally, HSBC lowered their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, NIKE has an average rating of “Hold” and an average target price of $98.96.

NIKE Price Performance

Shares of NYSE NKE opened at $75.36 on Friday. NIKE, Inc. has a fifty-two week low of $74.55 and a fifty-two week high of $123.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The company has a market capitalization of $113.75 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 1.79 and a beta of 1.05. The company has a 50 day simple moving average of $93.28 and a two-hundred day simple moving average of $99.15.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.87%. NIKE’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. Analysts expect that NIKE, Inc. will post 3.9 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm 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 dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s payout ratio is currently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction that occurred on 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 owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction that occurred on 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 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 is accessible through this link. Also, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is owned by corporate insiders.

NIKE 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.