BankPlus Trust Department Buys 3,518 Shares of NIKE, Inc. $NKE

BankPlus Trust Department grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 699.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,021 shares of the footwear maker’s stock after buying an additional 3,518 shares during the quarter. BankPlus Trust Department’s holdings in NIKE were worth $286,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after buying an additional 4,957,494 shares in the last quarter. Wellington Management Group LLP raised its position in shares of NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after buying an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after buying an additional 20,688,013 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of NIKE by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock valued at $1,332,331,000 after buying an additional 620,214 shares in the last quarter. Finally, Flossbach Von Storch SE raised its position in shares of NIKE by 24.0% during the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock valued at $652,995,000 after buying an additional 1,988,547 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NKE has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Piper Sandler set a $84.00 price objective on shares of NIKE and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Royal Bank Of Canada upgraded NIKE from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $76.00 to $90.00 in a research report on Thursday, September 18th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of NIKE in a research report on Saturday, September 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $81.57.

Insider Activity at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,378 shares of company stock worth $14,794,264. 0.80% of the stock is currently owned by corporate insiders.

NIKE Stock Performance

Shares of NYSE:NKE opened at $69.03 on Wednesday. The firm has a market cap of $101.95 billion, a PE ratio of 35.40, a price-to-earnings-growth ratio of 2.61 and a beta of 1.29. The firm’s 50 day simple moving average is $74.28 and its 200-day simple moving average is $67.28. NIKE, Inc. has a one year low of $52.28 and a one year high of $84.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same period last year, the company posted $0.70 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

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.