D.A. Davidson & CO. Acquires 37,537 Shares of NIKE, Inc. $NKE

Key Points

• D.A. Davidson & CO. has increased its holdings in NIKE, Inc. by 35.4%, owning 143,601 shares worth approximately $10.2 million as of its latest SEC filing.
• Institutional investors now hold 64.25% of NIKE's stock, with significant investments from firms like Goldman Sachs and Vanguard Group.
• Analyst ratings for NIKE reflect a strong sentiment, with an average target price set at $82.21 and a current rating of "Moderate Buy".

D.A. Davidson & CO. increased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 35.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 143,601 shares of the footwear maker's stock after purchasing an additional 37,537 shares during the period. D.A. Davidson & CO.'s holdings in NIKE were worth $10,201,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of NKE. Goldman Sachs Group Inc. grew its holdings in NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares during the period. Wellington Management Group LLP grew its holdings in NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares during the period. Jennison Associates LLC bought a new position in NIKE during the first quarter worth about $509,051,000. Nuveen LLC bought a new stake in shares of NIKE during the first quarter worth approximately $502,285,000. Finally, Vanguard Group Inc. boosted its holdings in shares of NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after acquiring an additional 4,957,494 shares during the period. Institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NKE. Sanford C. Bernstein restated a "buy" rating and set a $90.00 price objective on shares of NIKE in a report on Monday, October 13th. The Goldman Sachs Group set a $85.00 price objective on NIKE and gave the stock a "buy" rating in a report on Thursday, September 25th. Barclays set a $70.00 price objective on NIKE and gave the stock a "positive" rating in a report on Wednesday, October 1st. Piper Sandler set a $84.00 price objective on NIKE and gave the stock an "overweight" rating in a report on Wednesday, October 1st. Finally, Robert W. Baird boosted their price objective on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $82.21.

NIKE Stock Up 1.0%

NYSE NKE opened at $69.03 on Thursday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The company has a 50 day moving average of $72.67 and a 200-day moving average of $67.57. The company has a market cap of $102.03 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 2.52 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the previous year, the business earned $0.70 earnings per share. The company's revenue was up 1.0% on a year-over-year basis. On average, equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE's payout ratio is currently 82.05%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Treasure Heinle sold 4,300 shares of the business's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares of the company's stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.

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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