GW Henssler & Associates Ltd. Purchases Shares of 241,480 NIKE, Inc. $NKE

Key Points

• GW Henssler & Associates Ltd. invested approximately $15.33 million in NIKE, purchasing 241,480 shares during the first quarter.
• About 64.25% of NIKE's stock is currently owned by institutional investors and hedge funds, indicating strong institutional support.
• NIKE's stock has been rated with a majority of "Buy" and "Strong Buy" ratings from analysts, with an average target price of $78.22.

GW Henssler & Associates Ltd. bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 241,480 shares of the footwear maker's stock, valued at approximately $15,329,000.

Other large investors also recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the fourth quarter valued at $28,000. Stone House Investment Management LLC purchased a new position in NIKE during the first quarter worth about $25,000. Saudi Central Bank purchased a new position in shares of NIKE in the 1st quarter worth about $30,000. Putney Financial Group LLC purchased a new position in shares of NIKE in the 4th quarter worth about $40,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Up 0.5%

NYSE NKE traded up $0.40 on Wednesday, reaching $74.69. The stock had a trading volume of 7,465,443 shares, compared to its average volume of 8,412,580. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The business has a 50 day moving average price of $75.19 and a 200 day moving average price of $67.98. The company has a market capitalization of $110.32 billion, a price-to-earnings ratio of 34.58, a P/E/G ratio of 2.81 and a beta of 1.24. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

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

NIKE Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC increased their target price on NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research report on Friday, June 20th. Evercore ISI cut their price target on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a report on Tuesday, June 24th. Truist Financial cut their target price on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Tuesday, June 24th. Finally, Citigroup lifted their target price on NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and thirteen have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares of the company's stock, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.80% of the company's stock.

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.