abrdn plc Raises Stake in NIKE, Inc. (NYSE:NKE)

abrdn plc lifted its position in NIKE, Inc. (NYSE:NKE) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,103,981 shares of the footwear maker’s stock after acquiring an additional 30,945 shares during the quarter. NIKE accounts for approximately 0.7% of abrdn plc’s investment portfolio, making the stock its 27th largest holding. abrdn plc owned approximately 0.13% of NIKE worth $325,045,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. FFT Wealth Management LLC bought a new position in NIKE in the second quarter worth about $26,000. Princeton Global Asset Management LLC increased its holdings in shares of NIKE by 39.8% during the second quarter. Princeton Global Asset Management LLC now owns 246 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 70 shares in the last quarter. Rockbridge Investment Management LCC increased its holdings in shares of NIKE by 43.9% during the second quarter. Rockbridge Investment Management LCC now owns 246 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 75 shares in the last quarter. Baldrige Asset Management LLC acquired a new position in shares of NIKE during the second quarter valued at about $41,000. Finally, Geo Capital Gestora de Recursos Ltd increased its holdings in shares of NIKE by 128.4% during the first quarter. Geo Capital Gestora de Recursos Ltd now owns 370 shares of the footwear maker’s stock valued at $49,000 after acquiring an additional 208 shares in the last quarter. Institutional investors and hedge funds own 64.45% of the company’s stock.

NKE has been the topic of a number of recent research reports. Bank of America upped their target price on NIKE from $150.00 to $168.00 and gave the company a “neutral” rating in a research report on Friday, June 25th. BTIG Research lowered NIKE from a “buy” rating to a “neutral” rating in a research report on Monday. BMO Capital Markets upped their target price on NIKE from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Friday, June 25th. KGI Securities started coverage on NIKE in a research report on Tuesday, July 6th. They issued an “outperform” rating on the stock. Finally, UBS Group set a $185.00 price objective on NIKE in a research report on Thursday, September 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $173.26.

In other news, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 25th. The stock was sold at an average price of $152.00, for a total transaction of $1,520,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Andrew Campion sold 7,125 shares of the firm’s stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $171.50, for a total value of $1,221,937.50. The disclosure for this sale can be found here. Insiders sold a total of 379,671 shares of company stock worth $60,634,427 in the last ninety days. 3.70% of the stock is owned by corporate insiders.

Shares of NYSE NKE traded down $2.42 during mid-day trading on Wednesday, reaching $156.34. 229,683 shares of the company’s stock were exchanged, compared to its average volume of 6,287,462. The firm has a market capitalization of $247.30 billion, a price-to-earnings ratio of 44.14, a PEG ratio of 2.49 and a beta of 0.87. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.01 and a current ratio of 2.72. NIKE, Inc. has a 52-week low of $111.74 and a 52-week high of $174.38. The company’s 50-day moving average is $165.76 and its 200-day moving average is $146.63.

NIKE (NYSE:NKE) last released its quarterly earnings results on Wednesday, June 23rd. The footwear maker reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.42. NIKE had a return on equity of 51.41% and a net margin of 12.86%. The business had revenue of $12.30 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same period in the prior year, the business posted ($0.51) EPS. The company’s revenue was up 94.8% compared to the same quarter last year. As a group, equities analysts predict that NIKE, Inc. will post 4.3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Monday, August 30th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Friday, August 27th. NIKE’s dividend payout ratio (DPR) is 30.90%.

NIKE Company Profile

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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