NIKE, Inc. (NYSE:NKE) Shares Acquired by Grimes & Company Inc.

Grimes & Company Inc. boosted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 46.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 150,332 shares of the footwear maker's stock after purchasing an additional 47,487 shares during the period. Grimes & Company Inc.'s holdings in NIKE were worth $9,543,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Community Trust & Investment Co. raised its holdings in shares of NIKE by 18.7% in the 1st quarter. Community Trust & Investment Co. now owns 147,015 shares of the footwear maker's stock worth $9,333,000 after purchasing an additional 23,188 shares during the period. QRG Capital Management Inc. increased its position in NIKE by 35.2% during the 1st quarter. QRG Capital Management Inc. now owns 105,349 shares of the footwear maker's stock worth $6,688,000 after purchasing an additional 27,448 shares in the last quarter. Sagespring Wealth Partners LLC raised its holdings in NIKE by 113.0% in the first quarter. Sagespring Wealth Partners LLC now owns 10,074 shares of the footwear maker's stock valued at $639,000 after buying an additional 5,345 shares during the period. Precedent Wealth Partners LLC raised its holdings in NIKE by 31.0% in the first quarter. Precedent Wealth Partners LLC now owns 14,083 shares of the footwear maker's stock valued at $894,000 after buying an additional 3,335 shares during the period. Finally, Cypress Advisory Group LLC lifted its position in NIKE by 4.3% during the first quarter. Cypress Advisory Group LLC now owns 13,354 shares of the footwear maker's stock valued at $848,000 after buying an additional 550 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NKE shares. Robert W. Baird dropped their price objective on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Truist Financial decreased their price target on shares of NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research report on Friday, March 21st. China Renaissance started coverage on NIKE in a report on Wednesday, March 19th. They issued a "hold" rating for the company. UBS Group reduced their price objective on NIKE from $73.00 to $66.00 and set a "neutral" rating on the stock in a research note on Friday, March 21st. Finally, Bank of America decreased their target price on NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Seventeen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $79.15.

NIKE Stock Performance

NKE traded up $0.16 on Wednesday, hitting $60.16. 3,289,800 shares of the company's stock were exchanged, compared to its average volume of 15,177,517. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average of $59.57 and a two-hundred day moving average of $68.42. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The firm has a market cap of $88.98 billion, a PE ratio of 20.00, a P/E/G ratio of 2.14 and a beta of 1.21.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The business's revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. On average, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

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.