NIKE, Inc. $NKE Shares Bought by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors Inc. increased its shareholding in NIKE, Inc. by 19.9%, acquiring a total of 447,599 shares valued at approximately $31.8 million as of the end of the second quarter.
• Several analysts have provided varied ratings for NIKE, with a consensus target price of $79.62 and a majority rating of "Moderate Buy."
• NIKE's quarterly report indicated an earnings per share (EPS) of $0.14, surpassing analysts' estimates, but revenue fell 11.9% year-over-year, totaling $11.10 billion.

Fort Washington Investment Advisors Inc. OH boosted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 19.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 447,599 shares of the footwear maker's stock after buying an additional 74,260 shares during the period. Fort Washington Investment Advisors Inc. OH's holdings in NIKE were worth $31,797,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Caldwell Sutter Capital Inc. grew its position in NIKE by 6.3% in the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock worth $170,000 after buying an additional 142 shares during the last quarter. Westmount Partners LLC boosted its stake in NIKE by 2.9% in the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock worth $367,000 after purchasing an additional 146 shares during the period. Matrix Trust Co boosted its stake in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after purchasing an additional 153 shares during the period. RB Capital Management LLC boosted its stake in NIKE by 0.4% in the 2nd quarter. RB Capital Management LLC now owns 46,327 shares of the footwear maker's stock worth $3,291,000 after purchasing an additional 171 shares during the period. Finally, Breakwater Capital Group boosted its stake in NIKE by 4.8% in the 2nd quarter. Breakwater Capital Group now owns 3,873 shares of the footwear maker's stock worth $275,000 after purchasing an additional 177 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Wall Street Analyst Weigh In

NKE has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased 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. Evercore ISI decreased their price objective on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. Piper Sandler lifted their target price on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, June 27th. Citigroup raised shares of NIKE from a "neutral" rating to a "positive" rating in a research note on Friday, September 19th. Finally, HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research note on Friday, June 27th. Three research 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $79.62.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.80% of the company's stock.

NIKE Stock Up 0.1%

NKE stock opened at $69.31 on Friday. The firm has a market cap of $102.36 billion, a PE ratio of 32.09, a PEG ratio of 2.52 and a beta of 1.24. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.26. The company has a fifty day simple moving average of $74.99 and a 200 day simple moving average of $67.30. 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 issued its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. NIKE's revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 earnings per share. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

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 issued a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. NIKE's dividend payout ratio is currently 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.

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