Global Retirement Partners LLC Increases Stock Position in NIKE, Inc. (NYSE:NKE)

Global Retirement Partners LLC raised its position in shares of NIKE, Inc. (NYSE:NKE) by 12.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,159 shares of the footwear maker’s stock after buying an additional 2,289 shares during the quarter. Global Retirement Partners LLC’s holdings in NIKE were worth $1,782,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Annapolis Financial Services LLC increased its holdings in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares in the last quarter. Transcendent Capital Group LLC increased its holdings in shares of NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares in the last quarter. VitalStone Financial LLC increased its holdings in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new position in shares of NIKE during the second quarter valued at $44,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NKE stock opened at $82.92 on Friday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The stock’s fifty day simple moving average is $82.64 and its 200-day simple moving average is $85.32. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $125.16 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities research analysts expect that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

NKE has been the subject of several analyst reports. Wells Fargo & Company raised their price target on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Stifel Nicolaus reduced their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Barclays reduced their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Finally, Telsey Advisory Group reduced their price objective on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.56.

NIKE 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.