NIKE, Inc. (NYSE:NKE) Shares Acquired by Private Advisor Group LLC

Private Advisor Group LLC grew its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 15.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,798 shares of the footwear maker's stock after purchasing an additional 13,126 shares during the quarter. Private Advisor Group LLC's holdings in NIKE were worth $6,081,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of NKE. Norges Bank bought a new stake in NIKE during the 4th quarter valued at $1,126,288,000. Wellington Management Group LLP boosted its position in NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of NIKE in the 1st quarter worth $509,051,000. Renaissance Technologies LLC boosted its stake in shares of NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after buying an additional 2,416,601 shares during the period. Finally, Capital World Investors increased its holdings in shares of NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after purchasing an additional 2,288,627 shares during the period. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NKE. Piper Sandler upped their price target on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Needham & Company LLC upped their target price on shares of NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Truist Financial lowered their price objective on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research report on Friday, June 20th. Finally, Wall Street Zen downgraded NIKE from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, NIKE currently has an average rating of "Moderate Buy" and an average target price of $77.15.

Insiders Place Their Bets

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 shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

NIKE Stock Performance

Shares of NKE stock opened at $74.07 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The company's fifty day moving average price is $65.49 and its two-hundred day moving average price is $67.17. The firm has a market capitalization of $109.56 billion, a P/E ratio of 34.29, a P/E/G ratio of 2.66 and a beta of 1.25. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62.

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 for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The business had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. During the same period last year, the business earned $0.99 EPS. The business's revenue was down 11.9% on a year-over-year basis. On average, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were given a dividend of $0.40 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. NIKE's dividend payout ratio (DPR) is 74.07%.

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.

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.