NIKE, Inc. $NKE Shares Bought by Empowered Funds LLC

Empowered Funds LLC grew its stake in NIKE, Inc. (NYSE:NKE) by 17.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 190,219 shares of the footwear maker’s stock after acquiring an additional 28,874 shares during the quarter. Empowered Funds LLC’s holdings in NIKE were worth $12,075,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Spire Wealth Management increased its position in NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after purchasing an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in NIKE by 0.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after purchasing an additional 5,601 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its holdings in NIKE by 20.2% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 52,370 shares of the footwear maker’s stock valued at $3,963,000 after purchasing an additional 8,792 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of NIKE by 75.1% in the 4th quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker’s stock valued at $40,835,000 after buying an additional 231,417 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of NIKE in the 1st quarter valued at approximately $25,963,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on NKE. The Goldman Sachs Group upped their price objective on NIKE from $72.00 to $81.00 and gave the company a “buy” rating in a report on Friday, June 27th. Royal Bank Of Canada reduced their target price on NIKE from $66.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 20th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $70.00 price target on shares of NIKE in a research note on Friday, June 27th. Jefferies Financial Group reiterated a “buy” rating and set a $115.00 price target on shares of NIKE in a report on Friday, August 22nd. Finally, Truist Financial cut their price objective on NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average target price of $78.22.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s 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 sale, the chairman owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is currently owned by company insiders.

NIKE Stock Down 0.7%

Shares of NYSE:NKE opened at $73.60 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The firm has a market capitalization of $108.70 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. The firm’s 50-day moving average is $75.54 and its two-hundred day moving average is $67.87. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.99 earnings per share. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE’s payout ratio is 74.07%.

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.