Fairfield Financial Advisors LTD Takes Position in NIKE, Inc. (NYSE:NKE)

Fairfield Financial Advisors LTD bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 1,353 shares of the footwear maker’s stock, valued at approximately $102,000.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position 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 worth $10,342,012,000 after purchasing an additional 501,792 shares in the last quarter. Capital International Investors boosted its holdings in NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after acquiring an additional 7,143,775 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Fisher Asset Management LLC increased its holdings in shares of NIKE by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock valued at $1,072,676,000 after acquiring an additional 211,360 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after purchasing an additional 2,775,510 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on 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 directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

NIKE Stock Performance

NYSE:NKE opened at $79.01 on Monday. The stock has a market cap of $118.46 billion, a P/E ratio of 21.18, a PEG ratio of 2.08 and a beta of 1.02. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $77.23 and its two-hundred day moving average price is $87.64. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same period last year, the firm posted $0.66 earnings per share. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities analysts predict that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.87%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. KeyCorp restated a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. UBS Group restated a “neutral” rating and issued a $78.00 target price on shares of NIKE in a report on Friday, June 28th. Piper Sandler reiterated a “neutral” rating and set a $80.00 price target on shares of NIKE in a research note on Friday, August 23rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 price objective (down from $116.00) on shares of NIKE in a research note on Friday, June 28th. Finally, Williams Trading raised NIKE from a “sell” rating to a “buy” rating and lifted their target price for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.59.

NIKE Company 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.