NIKE, Inc. $NKE Shares Sold by Swiss National Bank

Swiss National Bank reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 4.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,396,000 shares of the footwear maker’s stock after selling 170,300 shares during the period. Swiss National Bank’s holdings in NIKE were worth $236,803,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of NKE. Twin Peaks Wealth Advisors LLC acquired a new position in NIKE in the 2nd quarter worth about $31,000. Guerra Advisors Inc acquired a new stake in NIKE in the third quarter valued at approximately $34,000. Accredited Wealth Management LLC increased its position in shares of NIKE by 268.6% in the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock valued at $36,000 after buying an additional 376 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of NIKE in the third quarter valued at approximately $43,000. Finally, Financial Consulate Inc. acquired a new position in shares of NIKE during the 3rd quarter worth approximately $57,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,691 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were purchased at an average cost of $57.54 per share, for a total transaction of $500,080.14. Following the completion of the acquisition, the director owned 43,293 shares of the company’s stock, valued at approximately $2,491,079.22. The trade was a 25.12% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Timothy D. Cook acquired 50,000 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was acquired at an average price of $58.97 per share, with a total value of $2,948,500.00. Following the completion of the transaction, the director directly owned 105,480 shares of the company’s stock, valued at $6,220,155.60. This trade represents a 90.12% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 75,079 shares of company stock worth $4,449,887 in the last 90 days. Insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $78.00 price target on shares of NIKE in a report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft set a $67.00 price target on shares of NIKE in a research note on Thursday, January 8th. BTIG Research restated a “buy” rating and issued a $100.00 target price on shares of NIKE in a research report on Tuesday, January 27th. JPMorgan Chase & Co. reduced their price objective on NIKE from $100.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Finally, Piper Sandler set a $75.00 price target on shares of NIKE and gave the stock an “overweight” rating in a research note on Friday, December 19th. Twenty-two investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.61.

NIKE Trading Down 0.8%

Shares of NKE stock opened at $56.56 on Tuesday. The company’s 50-day moving average price is $63.17 and its 200-day moving average price is $66.19. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The stock has a market cap of $83.73 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 2.92 and a beta of 1.27. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $80.19.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.19 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. NIKE’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.64 annualized dividend and a dividend yield of 2.9%. NIKE’s dividend payout ratio is 96.47%.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).