MBL Wealth LLC Buys Shares of 4,031 NIKE, Inc. $NKE

MBL Wealth LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 4,031 shares of the footwear maker's stock, valued at approximately $286,000.

Several other institutional investors have also made changes to their positions in NKE. Caldwell Sutter Capital Inc. lifted its stake in NIKE by 6.3% in the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock valued at $170,000 after acquiring an additional 142 shares during the last quarter. Westmount Partners LLC raised its holdings in shares of NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock valued at $367,000 after purchasing an additional 146 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of NIKE by 0.3% in the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker's stock valued at $3,695,000 after purchasing an additional 147 shares during the last quarter. Matrix Trust Co raised its holdings in NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock valued at $31,000 after buying an additional 153 shares in the last quarter. Finally, Summit Financial Strategies Inc. lifted its position in shares of NIKE by 3.8% in the second quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker's stock worth $303,000 after buying an additional 155 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction that occurred 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. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.80% of the company's stock.

NIKE Price Performance

Shares of NIKE stock opened at $72.01 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The company has a market cap of $106.34 billion, a PE ratio of 36.93, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29. The firm has a fifty day moving average price of $74.62 and a two-hundred day moving average price of $67.24. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76.

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 analysts' consensus estimates 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 analyst estimates of $10.96 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. Analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

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 $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. NIKE's dividend payout ratio (DPR) is currently 82.05%.

Analysts Set New Price Targets

NKE has been the subject of several recent analyst reports. Truist Financial reiterated a "buy" rating and set a $85.00 price target on shares of NIKE in a research note on Wednesday, October 1st. DZ Bank upgraded NIKE from a "hold" rating to a "buy" rating in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research note on Friday, June 20th. Zacks Research upgraded shares of NIKE from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and a consensus target price of $81.57.

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.

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