Gateway Investment Advisers LLC Buys 143,284 Shares of NIKE, Inc. $NKE

Key Points

• Gateway Investment Advisers LLC significantly increased its stake in NIKE, Inc. by 807.8%, owning 161,022 shares valued at approximately $11.44 million.
• NIKE reported earnings per share of $0.14, surpassing analyst expectations, despite a 11.9% year-over-year revenue decrease to $11.10 billion.
• The company declared a quarterly dividend of $0.40 per share, signaling a dividend yield of 2.2% and a payout ratio of 74.07%.

Gateway Investment Advisers LLC increased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 807.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 161,022 shares of the footwear maker's stock after purchasing an additional 143,284 shares during the quarter. Gateway Investment Advisers LLC's holdings in NIKE were worth $11,439,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NKE. Goldman Sachs Group Inc. raised its holdings in NIKE by 344.2% in the 1st 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 raised its holdings in NIKE by 24.9% in the 1st 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 in the 1st quarter worth $509,051,000. Nuveen LLC bought a new position in NIKE in the 1st quarter worth $502,285,000. Finally, Vanguard Group Inc. raised its holdings in NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Trading Down 1.7%

NYSE NKE traded down $1.22 during trading on Friday, hitting $70.88. The stock had a trading volume of 33,397,876 shares, compared to its average volume of 10,678,684. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock has a market capitalization of $104.68 billion, a price-to-earnings ratio of 32.81, a P/E/G ratio of 2.57 and a beta of 1.24. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The stock has a 50 day simple moving average of $75.19 and a 200 day simple moving average of $67.50.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm's quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 earnings per share. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's payout ratio is currently 74.07%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of NIKE 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 sale, the chairman owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on NKE shares. Piper Sandler raised their target price on NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Zacks Research raised NIKE from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. UBS Group set a $71.00 price target on NIKE and gave the company a "neutral" rating in a report on Friday. Barclays raised their price target on NIKE from $64.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Argus raised NIKE to a "buy" rating in a report on Sunday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $79.04.

About NIKE

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.