Abacus Planning Group Inc. Takes Position in NIKE, Inc. $NKE

Abacus Planning Group Inc. bought a new stake in shares of NIKE, Inc. (NYSE:NKE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,105 shares of the footwear maker’s stock, valued at approximately $505,000.

Several other institutional investors also recently bought and sold shares of NKE. Stone House Investment Management LLC acquired a new stake in NIKE in the 1st quarter worth about $25,000. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the last quarter. Saudi Central Bank acquired a new position in shares of NIKE during the 1st quarter worth approximately $30,000. Matrix Trust Co boosted its holdings in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in shares of NIKE during the 2nd quarter worth approximately $35,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $74.59 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.50 and a current ratio of 2.19. The company has a market capitalization of $110.16 billion, a price-to-earnings ratio of 38.25, a price-to-earnings-growth ratio of 2.79 and a beta of 1.29. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76. The firm has a 50-day simple moving average of $74.71 and a 200-day simple moving average of $67.32.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. On average, equities research analysts anticipate 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. Investors of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NKE. Robert W. Baird boosted their target price on NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, June 27th. Truist Financial reissued a “buy” rating and issued a $85.00 target price on shares of NIKE in a research report on Wednesday. UBS Group set a $71.00 price objective on NIKE and gave the stock a “neutral” rating in a research report on Friday, September 19th. Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Finally, TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $85.00 in a research note on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $81.57.

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.