6,062 Shares in NIKE, Inc. (NYSE:NKE) Acquired by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC purchased a new stake in NIKE, Inc. (NYSE:NKE) during the second quarter, HoldingsChannel.com reports. The fund purchased 6,062 shares of the footwear maker’s stock, valued at approximately $458,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of NIKE in the 4th quarter valued at about $1,315,097,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares during the period. Capital International Investors increased its position in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares during the last quarter. Longview Partners Guernsey LTD purchased a new stake in NIKE during the 1st quarter valued at $533,533,000. Finally, Capital World Investors lifted its position in NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after buying an additional 4,457,376 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of analyst reports. Guggenheim cut their price objective on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Truist Financial cut their price target on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Raymond James reissued a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Finally, Stifel Nicolaus dropped their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $95.59.

NIKE Price Performance

Shares of NIKE stock traded down $1.39 during trading hours on Tuesday, reaching $81.93. 3,023,936 shares of the company’s stock were exchanged, compared to its average volume of 11,403,823. The business has a fifty day moving average of $77.63 and a two-hundred day moving average of $89.21. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $123.66 billion, a P/E ratio of 21.81, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. As a group, research analysts predict that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

NIKE Company 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.