Integrated Advisors Network LLC Buys 2,365 Shares of NIKE, Inc. (NYSE:NKE)

Financial News Live · Nov 27, 2022 00:02

Integrated Advisors Network LLC raised its stake in $Nike (NKE.US)$ by 14.7% during the 2nd quarter, Holdings Channel reports. The fund owned 18,470 shares of the footwear maker's stock after acquiring an additional 2,365 shares during the period. Integrated Advisors Network LLC's holdings in NIKE were worth $1,888,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of NIKE by 9.0% during the first quarter. Wellington Management Group LLP now owns 18,040,233 shares of the footwear maker's stock worth $2,427,495,000 after purchasing an additional 1,486,421 shares during the period. Lazard Asset Management LLC increased its holdings in shares of NIKE by 221.5% during the first quarter. Lazard Asset Management LLC now owns 2,046,445 shares of the footwear maker's stock worth $275,368,000 after purchasing an additional 1,409,913 shares during the period. Bank of Nova Scotia increased its holdings in shares of NIKE by 88.6% during the first quarter. Bank of Nova Scotia now owns 1,677,653 shares of the footwear maker's stock worth $225,747,000 after purchasing an additional 788,270 shares during the period. Jensen Investment Management Inc. increased its holdings in shares of NIKE by 21.1% during the first quarter. Jensen Investment Management Inc. now owns 4,222,897 shares of the footwear maker's stock worth $568,233,000 after purchasing an additional 735,466 shares during the period. Finally, Swiss National Bank increased its holdings in shares of NIKE by 13.9% during the first quarter. Swiss National Bank now owns 5,534,593 shares of the footwear maker's stock worth $744,735,000 after purchasing an additional 676,600 shares during the period. 64.19% of the stock is owned by institutional investors.

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Insider Buying and Selling

In related news, EVP Monique S. Matheson sold 5,882 shares of NIKE stock in a transaction on Monday, October 31st. The shares were sold at an average price of $93.55, for a total transaction of $550,261.10. Following the completion of the transaction, the executive vice president now owns 60,213 shares of the company's stock, valued at $5,632,926.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is owned by insiders.

NIKE Price Performance

Shares of NYSE:NKE opened at $105.96 on Friday. The firm has a market cap of $166.20 billion, a PE ratio of 30.02, a price-to-earnings-growth ratio of 3.54 and a beta of 1.12. The firm's fifty day moving average is $95.19 and its 200-day moving average is $105.12. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.76 and a current ratio of 2.64. NIKE, Inc. has a 52 week low of $82.22 and a 52 week high of $173.37.

NIKE (NYSE:NKE – Get Rating) last announced its earnings results on Thursday, September 29th. The footwear maker reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.01. NIKE had a net margin of 11.96% and a return on equity of 37.08%. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.28 billion. During the same quarter last year, the firm earned $1.16 earnings per share. NIKE's quarterly revenue was up 3.7% on a year-over-year basis. Sell-side analysts predict that NIKE, Inc. will post 2.97 earnings per share for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 28th. Investors of record on Monday, December 5th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Friday, December 2nd. This is an increase from NIKE's previous quarterly dividend of $0.31. NIKE's dividend payout ratio (DPR) is currently 34.56%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NKE shares. Stifel Nicolaus lowered their target price on shares of NIKE from $130.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, September 30th. Royal Bank of Canada set a $115.00 target price on shares of NIKE in a report on Tuesday, October 4th. Bank of America reduced their price target on shares of NIKE from $122.00 to $100.00 and set a "neutral" rating on the stock in a research report on Friday, September 30th. Cowen increased their price target on shares of NIKE from $114.00 to $118.00 in a research report on Tuesday. Finally, Telsey Advisory Group reduced their price target on shares of NIKE from $125.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, September 30th. Thirteen investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $115.25.

NIKE Profile

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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.

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