Allspring Global Investments Holdings LLC Has $67.69 Million Stock Position in NIKE, Inc. $NKE

Allspring Global Investments Holdings LLC boosted its stake in NIKE, Inc. (NYSE:NKE) by 68.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 922,103 shares of the footwear maker’s stock after acquiring an additional 373,101 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.06% of NIKE worth $67,692,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. GW Henssler & Associates Ltd. lifted its position in NIKE by 14.0% in the 2nd quarter. GW Henssler & Associates Ltd. now owns 275,217 shares of the footwear maker’s stock valued at $19,551,000 after acquiring an additional 33,737 shares in the last quarter. LRI Investments LLC lifted its position in NIKE by 9.1% in the 2nd quarter. LRI Investments LLC now owns 6,287 shares of the footwear maker’s stock valued at $447,000 after acquiring an additional 522 shares in the last quarter. Prostatis Group LLC lifted its position in NIKE by 21.0% in the 2nd quarter. Prostatis Group LLC now owns 14,823 shares of the footwear maker’s stock valued at $1,053,000 after acquiring an additional 2,575 shares in the last quarter. SPC Financial Inc. bought a new stake in NIKE in the 2nd quarter valued at $214,000. Finally, Advocate Group LLC lifted its position in NIKE by 9.8% in the 2nd quarter. Advocate Group LLC now owns 45,654 shares of the footwear maker’s stock valued at $3,243,000 after acquiring an additional 4,091 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Transactions at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 200,378 shares of company stock worth $14,794,264. 0.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Hsbc Global Res raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. Argus raised shares of NIKE to a “buy” rating in a research report on Sunday, July 6th. HSBC raised shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Friday, June 27th. Robert W. Baird boosted their price target on shares of NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, June 27th. Finally, Bank of America boosted their price target on shares of NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.57.

NIKE Stock Up 3.3%

NIKE stock opened at $67.39 on Tuesday. The firm has a market capitalization of $99.61 billion, a PE ratio of 34.56, a P/E/G ratio of 2.38 and a beta of 1.29. The company’s 50-day moving average is $73.66 and its 200-day moving average is $67.33. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating 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 quarter in the prior year, the business earned $0.70 EPS. NIKE’s quarterly revenue was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid 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 2.4%. NIKE’s dividend payout ratio is 82.05%.

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.