2,925 Shares in NIKE, Inc. $NKE Acquired by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. purchased a new position in shares of NIKE, Inc. (NYSE:NKE) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,925 shares of the footwear maker’s stock, valued at approximately $208,000.

A number of other institutional investors have also added to or reduced their stakes in NKE. Goldman Sachs Group Inc. raised its stake in NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after buying an additional 20,688,013 shares during the period. Wellington Management Group LLP raised its stake in NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after buying an additional 9,043,180 shares during the period. Jennison Associates LLC acquired a new position in NIKE during the 1st quarter worth approximately $509,051,000. Nuveen LLC acquired a new position in NIKE during the 1st quarter worth approximately $502,285,000. Finally, Vanguard Group Inc. raised its stake in NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after buying an additional 4,957,494 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the company. Barclays set a $70.00 price objective on NIKE and gave the stock a “positive” rating in a report on Wednesday, October 1st. Cowen raised NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. The Goldman Sachs Group set a $85.00 price objective on NIKE and gave the stock a “buy” rating in a report on Thursday, September 25th. Sanford C. Bernstein reissued a “buy” rating and set a $90.00 price objective on shares of NIKE in a report on Wednesday, October 1st. Finally, Piper Sandler set a $84.00 price objective on NIKE and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.57.

NIKE Stock Performance

NKE stock opened at $65.25 on Monday. The firm has a market cap of $96.45 billion, a PE ratio of 33.46, a P/E/G ratio of 2.38 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average of $73.80 and a 200-day moving average of $67.30. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $84.76.

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

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. NIKE’s dividend payout ratio is currently 82.05%.

Insider Activity at NIKE

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

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.