Northstar Group Inc. Acquires 497 Shares of NIKE, Inc. $NKE

Northstar Group Inc. grew its position in shares of NIKE, Inc. (NYSE:NKE) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,240 shares of the footwear maker’s stock after acquiring an additional 497 shares during the quarter. Northstar Group Inc.’s holdings in NIKE were worth $1,438,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Spire Wealth Management boosted its position in NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after acquiring an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after acquiring an additional 5,601 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in NIKE during the 1st quarter worth approximately $25,963,000. BROOKFIELD Corp ON boosted its position in NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after acquiring an additional 175,000 shares during the last quarter. Finally, Olstein Capital Management L.P. boosted its position in NIKE by 42.2% during the 1st quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker’s stock worth $5,777,000 after acquiring an additional 27,000 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 6.2%

NKE opened at $74.04 on Thursday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $85.23. The stock’s fifty day simple moving average is $74.73 and its 200 day simple moving average is $67.31. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a market cap of $109.35 billion, a PE ratio of 37.97, a price-to-earnings-growth ratio of 2.60 and a beta of 1.29.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.05% and a net margin of 6.23%.The business had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the prior year, the business earned $0.70 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE’s dividend payout ratio (DPR) is presently 74.07%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NKE shares. Truist Financial reissued a “buy” rating and issued a $85.00 price objective on shares of NIKE in a report on Wednesday. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and increased their price objective for the company from $62.00 to $85.00 in a report on Wednesday, September 10th. The Goldman Sachs Group set a $85.00 price objective on NIKE and gave the company a “buy” rating in a report on Thursday, September 25th. DZ Bank raised NIKE from a “neutral” rating to a “buy” rating in a report on Wednesday. Finally, Evercore ISI cut their price objective on NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is owned by 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.