NIKE, Inc. $NKE Shares Acquired by Richards Merrill & Peterson Inc.

Richards Merrill & Peterson Inc. boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,147 shares of the footwear maker’s stock after purchasing an additional 592 shares during the period. Richards Merrill & Peterson Inc.’s holdings in NIKE were worth $721,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in NKE. Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of NIKE by 1.0% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock valued at $1,007,000 after purchasing an additional 134 shares during the period. Caldwell Sutter Capital Inc. lifted its stake in NIKE by 6.3% during the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after buying an additional 142 shares in the last quarter. Salomon & Ludwin LLC boosted its holdings in shares of NIKE by 10.1% in the second quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after buying an additional 145 shares during the period. Westmount Partners LLC increased its position in shares of NIKE by 2.9% in the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after acquiring an additional 146 shares in the last quarter. Finally, HB Wealth Management LLC raised its holdings in shares of NIKE by 0.3% during the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after acquiring an additional 147 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

NKE stock opened at $69.15 on Friday. The company has a market capitalization of $102.22 billion, a price-to-earnings ratio of 35.46, a P/E/G ratio of 2.57 and a beta of 1.29. The firm has a 50 day moving average of $72.38 and a two-hundred day moving average of $67.78. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. The firm had revenue of $11.72 billion for 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 business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction 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. The trade was a 12.76% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of several research analyst reports. Zacks Research upgraded shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Telsey Advisory Group reissued a “market perform” rating and set a $75.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Morgan Stanley set a $72.00 price objective on NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 target price on shares of NIKE in a report on Monday, September 29th. Finally, Piper Sandler set a $84.00 price target on shares of NIKE and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.21.

About NIKE

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.