Smithbridge Asset Management Inc. DE Grows Holdings in NIKE, Inc. (NYSE:NKE)

Smithbridge Asset Management Inc. DE raised its position in shares of NIKE, Inc. (NYSE:NKE) by 5.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,390 shares of the footwear maker’s stock after purchasing an additional 2,467 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in NIKE were worth $4,278,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NKE. Transcendent Capital Group LLC raised its stake in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares during the period. VitalStone Financial LLC raised its position 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 buying an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC boosted its position 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 worth $39,000 after acquiring an additional 376 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in NIKE during the second quarter valued at $44,000. Finally, MFA Wealth Advisors LLC purchased a new position in NIKE during the second quarter valued at $46,000. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated 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 $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by company insiders.

NIKE Stock Up 0.6 %

Shares of NKE stock traded up $0.51 during mid-day trading on Monday, hitting $79.36. The stock had a trading volume of 501,031 shares, compared to its average volume of 11,553,916. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm’s 50-day moving average is $82.71 and its two-hundred day moving average is $84.91. The firm has a market capitalization of $119.78 billion, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 earnings per share. On average, analysts predict that NIKE, Inc. will post 2.78 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is 39.68%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NKE. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered their price objective on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 2nd. UBS Group boosted their target price on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Piper Sandler restated a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price 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.