NIKE, Inc. $NKE Holdings Lifted by CreativeOne Wealth LLC

Key Points

• CreativeOne Wealth LLC increased its stake in NIKE, Inc. by 19.2% during the first quarter, now owning 29,247 shares valued at approximately $1.86 million.
• Goldman Sachs Group Inc. significantly increased its stake by 344.2% in the first quarter, now holding 26.7 million shares worth nearly $1.7 billion.
• NIKE recently announced a quarterly dividend of $0.40 per share, scheduled for payment on October 1, which represents an annualized yield of 2.1%.

CreativeOne Wealth LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 19.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,247 shares of the footwear maker's stock after acquiring an additional 4,714 shares during the period. CreativeOne Wealth LLC's holdings in NIKE were worth $1,857,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Spire Wealth Management raised its position in shares of NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after acquiring an additional 416 shares in the last quarter. Capitolis Liquid Global Markets LLC raised its position in shares of NIKE by 40.9% during the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after acquiring an additional 90,000 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of NIKE by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after acquiring an additional 463,470 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after acquiring an additional 5,601 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp increased its position in NIKE by 20.2% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 52,370 shares of the footwear maker's stock worth $3,963,000 after buying an additional 8,792 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction 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 trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NKE has been the topic of several analyst reports. Royal Bank Of Canada dropped their target price on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 20th. Argus raised NIKE to a "buy" rating in a research report on Sunday, July 6th. JPMorgan Chase & Co. raised NIKE from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $64.00 to $93.00 in a research report on Monday, July 28th. Truist Financial dropped their target price on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $70.00 target price on shares of NIKE in a research report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and thirteen have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $78.22.

NIKE Stock Performance

Shares of NKE traded down $0.58 during trading hours on Friday, reaching $77.34. 14,203,244 shares of the company's stock traded hands, compared to its average volume of 8,854,530. The firm has a market capitalization of $114.22 billion, a price-to-earnings ratio of 35.81, a P/E/G ratio of 2.81 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The business's fifty day simple moving average is $74.32 and its two-hundred day simple moving average is $67.86.

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

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is 74.07%.

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.