NIKE, Inc. (NYSE:NKE) Shares Bought by Bar Harbor Wealth Management

Bar Harbor Wealth Management grew its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 198.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 92,863 shares of the footwear maker's stock after buying an additional 61,737 shares during the quarter. Bar Harbor Wealth Management's holdings in NIKE were worth $5,895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Smithbridge Asset Management Inc. DE acquired a new position in shares of NIKE in the 1st quarter valued at $2,705,000. Donald L. Hagan LLC acquired a new stake in NIKE during the first quarter valued at $1,110,000. Verity & Verity LLC increased its holdings in NIKE by 32.9% in the first quarter. Verity & Verity LLC now owns 7,534 shares of the footwear maker's stock valued at $478,000 after buying an additional 1,864 shares in the last quarter. Quintet Private Bank Europe S.A. raised its position in shares of NIKE by 2.8% in the first quarter. Quintet Private Bank Europe S.A. now owns 550,743 shares of the footwear maker's stock worth $34,961,000 after acquiring an additional 14,987 shares during the period. Finally, Tobam raised its position in shares of NIKE by 2,064.2% in the first quarter. Tobam now owns 29,282 shares of the footwear maker's stock worth $1,859,000 after acquiring an additional 27,929 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

NIKE Trading Down 3.8%

Shares of NIKE stock traded down $2.36 on Friday, reaching $60.44. The company had a trading volume of 16,491,618 shares, compared to its average volume of 15,200,492. The firm's 50 day moving average price is $59.38 and its two-hundred day moving average price is $68.67. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The firm has a market cap of $89.40 billion, a PE ratio of 18.65, a PEG ratio of 2.52 and a beta of 1.21.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The firm's quarterly revenue was down 9.1% compared to the same quarter last year. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.65%. The ex-dividend date is Monday, June 2nd. NIKE's payout ratio is 53.16%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Citigroup cut their price target on shares of NIKE from $72.00 to $57.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Truist Financial cut their price objective on NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Robert W. Baird decreased their target price on NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Finally, Morgan Stanley lowered their price target on NIKE from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Friday, March 21st. Seventeen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $80.26.

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.