NIKE, Inc. (NYSE:NKE) Shares Bought by DT Investment Partners LLC

DT Investment Partners LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 11.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,080 shares of the footwear maker’s stock after purchasing an additional 220 shares during the quarter. DT Investment Partners LLC’s holdings in NIKE were worth $184,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after acquiring an additional 501,792 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of NIKE by 45.6% in the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after purchasing an additional 2,775,510 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of NIKE by 0.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after buying an additional 52,500 shares during the period. Finally, Longview Partners Guernsey LTD purchased a new position in shares of NIKE in the 1st quarter worth $533,533,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

NKE opened at $79.05 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a 50-day moving average of $82.86 and a 200-day moving average of $85.10. The company has a market capitalization of $118.52 billion, a P/E ratio of 22.65, a PEG ratio of 1.95 and a beta of 1.02.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. Equities analysts expect that NIKE, Inc. will post 2.78 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.87%. NIKE’s dividend payout ratio (DPR) is 42.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NKE shares. Barclays dropped their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Evercore ISI cut their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Stifel Nicolaus dropped their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Finally, Piper Sandler restated a “neutral” rating and set a $80.00 target price on shares of NIKE in a report on Friday, September 20th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.56.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

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.