Zhang Financial LLC Invests $740,000 in NIKE, Inc. (NYSE:NKE)

Zhang Financial LLC purchased a new stake in NIKE, Inc. (NYSE:NKE) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 8,366 shares of the footwear maker’s stock, valued at approximately $740,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new stake in shares of NIKE in the fourth quarter valued at approximately $42,000. SageView Advisory Group LLC lifted its holdings in shares of NIKE by 192.9% during the 4th quarter. SageView Advisory Group LLC now owns 9,496 shares of the footwear maker’s stock worth $989,000 after acquiring an additional 6,254 shares during the period. Boltwood Capital Management grew its holdings in NIKE by 20.6% in the first quarter. Boltwood Capital Management now owns 3,372 shares of the footwear maker’s stock valued at $317,000 after purchasing an additional 575 shares during the period. Moody National Bank Trust Division increased its holdings in shares of NIKE by 1.5% during the 1st quarter. Moody National Bank Trust Division now owns 12,405 shares of the footwear maker’s stock worth $1,166,000 after buying an additional 182 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of NIKE by 3.8% in the 1st quarter. CWM LLC now owns 41,705 shares of the footwear maker’s stock valued at $3,919,000 after purchasing an additional 1,517 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

NIKE Stock Up 0.7 %

Shares of NYSE:NKE opened at $82.14 on Wednesday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The firm has a fifty day moving average of $82.05 and a 200 day moving average of $85.41. The firm has a market capitalization of $123.98 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the firm posted $0.94 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. As a group, research analysts anticipate that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. NIKE’s payout ratio is currently 39.68%.

Wall Street Analyst Weigh In

NKE has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. UBS Group boosted their price objective on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America reduced their price target on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Finally, Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and raised their price objective for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.56.

About NIKE

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.