NIKE, Inc. (NYSE:NKE) Shares Purchased by Morse Asset Management Inc

Morse Asset Management Inc raised its position in NIKE, Inc. (NYSE:NKE) by 4.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,947 shares of the footwear maker’s stock after acquiring an additional 481 shares during the quarter. Morse Asset Management Inc’s holdings in NIKE were worth $825,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of NKE. Annapolis Financial Services LLC increased its stake in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares during the period. True Wealth Design LLC increased its position in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the period. Frank Rimerman Advisors LLC acquired a new position in NIKE during the 4th quarter worth approximately $33,000. Core Wealth Advisors Inc. lifted its holdings in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after buying an additional 241 shares during the period. Finally, Gold Investment Management Ltd. purchased a new stake in shares of NIKE in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Stifel Nicolaus cut their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a report on Friday. Wells Fargo & Company boosted their price objective on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Bank of America decreased their price target on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $96.15.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by insiders.

NIKE Trading Up 6.8 %

NYSE NKE opened at $86.52 on Monday. The company has a 50-day moving average of $78.11 and a 200-day moving average of $86.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a market cap of $130.59 billion, a P/E ratio of 23.20, a P/E/G ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter last year, the firm posted $0.66 earnings per share. NIKE’s revenue was down 1.6% on a year-over-year basis. As a group, equities analysts predict that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

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.