Broderick Brian C Acquires 5,765 Shares of NIKE, Inc. (NYSE:NKE)

Broderick Brian C grew its holdings in NIKE, Inc. (NYSE:NKE) by 16.4% during the 1st quarter, HoldingsChannel reports. The firm owned 41,005 shares of the footwear maker’s stock after purchasing an additional 5,765 shares during the quarter. Broderick Brian C’s holdings in NIKE were worth $3,854,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Iron Horse Wealth Management LLC grew its position in shares of NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after buying an additional 140 shares during the last quarter. Annapolis Financial Services LLC grew its position in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of NIKE in the 4th quarter valued at about $29,000. True Wealth Design LLC grew its position in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the last quarter. Finally, Core Wealth Advisors Inc. grew its position 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 last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock traded up $0.84 during trading hours on Thursday, reaching $73.38. The company had a trading volume of 15,843,352 shares, compared to its average volume of 11,168,768. NIKE, Inc. has a one year low of $71.67 and a one year high of $123.39. The business has a fifty day simple moving average of $89.89 and a 200 day simple moving average of $96.31. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The firm has a market cap of $110.76 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period last year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts anticipate that NIKE, Inc. will post 3.17 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio is 39.68%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction 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 $102,648,662.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction 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 $102,648,662.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 213,660 shares of company stock valued at $19,946,333. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Robert W. Baird reduced their price target on NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. UBS Group reiterated a “neutral” rating and issued a $78.00 price target on shares of NIKE in a research report on Friday, June 28th. TD Cowen dropped their price objective on NIKE from $89.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Piper Sandler dropped their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Finally, Barclays downgraded NIKE from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $109.00 to $80.00 in a research note on Friday, June 28th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $97.19.

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.