National Asset Management Inc. Raises Stock Position in NIKE, Inc. (NYSE:NKE)

National Asset Management Inc. lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,637 shares of the footwear maker’s stock after acquiring an additional 1,616 shares during the period. National Asset Management Inc.’s holdings in NIKE were worth $6,708,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NKE. FFT Wealth Management LLC acquired a new position in shares of NIKE in the 2nd quarter valued at approximately $26,000. Princeton Global Asset Management LLC grew its stake 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 worth $38,000 after purchasing an additional 70 shares during the period. Rockbridge Investment Management LCC lifted its holdings in shares of NIKE by 43.9% in the second quarter. Rockbridge Investment Management LCC now owns 246 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 75 shares in the last quarter. Baldrige Asset Management LLC acquired a new position in NIKE during the second quarter worth approximately $41,000. Finally, Geo Capital Gestora de Recursos Ltd boosted its stake in shares of NIKE by 128.4% in the first quarter. Geo Capital Gestora de Recursos Ltd now owns 370 shares of the footwear maker’s stock valued at $49,000 after buying an additional 208 shares during the period. 64.45% of the stock is owned by institutional investors and hedge funds.

NYSE NKE traded down $1.54 on Wednesday, hitting $157.22. 59,938 shares of the company’s stock were exchanged, compared to its average volume of 6,287,462. NIKE, Inc. has a 52 week low of $111.74 and a 52 week high of $174.38. The stock has a market cap of $248.69 billion, a price-to-earnings ratio of 44.60, a P/E/G ratio of 2.49 and a beta of 0.87. The company has a current ratio of 2.72, a quick ratio of 2.01 and a debt-to-equity ratio of 0.74. The stock has a 50-day moving average of $165.76 and a 200-day moving average of $146.63.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Wednesday, June 23rd. The footwear maker reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.42. NIKE had a net margin of 12.86% and a return on equity of 51.41%. The business had revenue of $12.30 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter last year, the firm earned ($0.51) EPS. The firm’s revenue for the quarter was up 94.8% compared to the same quarter last year. As a group, analysts predict that NIKE, Inc. will post 4.3 earnings per share for the current year.

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

A number of research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of NIKE from $170.00 to $174.00 and gave the company an “overweight” rating in a research note on Friday, June 25th. Stifel Nicolaus lifted their price objective on shares of NIKE from $168.00 to $213.00 and gave the company a “buy” rating in a report on Friday, June 25th. Telsey Advisory Group lifted their price objective on shares of NIKE from $160.00 to $180.00 in a research note on Friday, June 25th. UBS Group set a $185.00 target price on shares of NIKE in a research report on Thursday, September 9th. Finally, BMO Capital Markets raised their target price on shares of NIKE from $160.00 to $174.00 and gave the stock an “outperform” rating in a research report on Friday, June 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-nine have given a buy rating to the company’s stock. According to data from MarketBeat, NIKE has an average rating of “Buy” and an average price target of $173.26.

In related news, VP Chris L. Abston sold 16,500 shares of the firm’s stock in a transaction that occurred on Friday, June 25th. The shares were sold at an average price of $152.00, for a total value of $2,508,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Heidi O’neill sold 25,000 shares of the stock in a transaction on Friday, June 25th. The stock was sold at an average price of $152.00, for a total value of $3,800,000.00. The disclosure for this sale can be found here. Insiders have sold 379,671 shares of company stock valued at $60,634,427 in the last quarter. 3.70% of the stock is owned by company insiders.

About NIKE

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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