Colonial Trust Advisors Buys 6,691 Shares of NIKE, Inc. $NKE

Key Points

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Colonial Trust Advisors increased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 6.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,958 shares of the footwear maker's stock after acquiring an additional 6,691 shares during the period. Colonial Trust Advisors' holdings in NIKE were worth $7,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after purchasing an additional 4,957,494 shares during the last quarter. Wellington Management Group LLP raised its position in NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after purchasing an additional 9,043,180 shares during the last quarter. Goldman Sachs Group Inc. raised its position in NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Bank of New York Mellon Corp raised its position in NIKE by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after purchasing an additional 620,214 shares during the last quarter. Finally, Northern Trust Corp raised its position in NIKE by 8.8% during the 4th quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock valued at $1,111,625,000 after purchasing an additional 1,183,641 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

NIKE Stock Performance

NIKE stock opened at $77.43 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $114.36 billion, a P/E ratio of 35.85, a PEG ratio of 2.80 and a beta of 1.27. The stock's 50 day moving average is $71.36 and its 200 day moving average is $67.56. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the business posted $0.99 EPS. The company's revenue was down 11.9% compared to the same quarter last year. On average, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is currently 74.07%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

NKE has been the subject of a number of recent analyst reports. DZ Bank lowered NIKE from a "buy" rating to a "hold" rating and set a $76.00 price target for the company. in a research report on Thursday, July 10th. Piper Sandler upped their price target on NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. UBS Group initiated coverage on NIKE in a research report on Sunday, July 6th. They set a "buy" rating for the company. Barclays upped their price target on NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. Finally, Needham & Company LLC upped their target price on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

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.

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