Kimelman & Baird LLC Acquires 4,545 Shares of NIKE, Inc. $NKE

Key Points

• Kimelman & Baird LLC has increased its stake in NIKE, Inc. by 2.6% during the 1st quarter, now holding 182,720 shares worth approximately $11.6 million.
• Several institutional investors have also raised their positions in NIKE, with Vanguard Group increasing by 4.6% and Goldman Sachs by 344.2% in the same quarter.
• NIKE recently announced a quarterly dividend of $0.40 per share, payable on October 1st, representing an annualized yield of 2.1%.

Kimelman & Baird LLC grew its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 2.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 182,720 shares of the footwear maker's stock after acquiring an additional 4,545 shares during the period. Kimelman & Baird LLC's holdings in NIKE were worth $11,599,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC lifted its stake in shares of NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after buying an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG increased its stake in NIKE by 10.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock valued at $14,447,000 after acquiring an additional 17,888 shares during the period. NewEdge Advisors LLC raised its position in NIKE by 0.3% in the fourth quarter. NewEdge Advisors LLC now owns 71,221 shares of the footwear maker's stock worth $5,389,000 after purchasing an additional 230 shares in the last quarter. Altshuler Shaham Ltd lifted its stake in NIKE by 42.9% during the fourth quarter. Altshuler Shaham Ltd now owns 43,654 shares of the footwear maker's stock worth $3,303,000 after purchasing an additional 13,095 shares during the period. Finally, Strategic Investment Solutions Inc. IL boosted its holdings in NIKE by 222.6% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 713 shares of the footwear maker's stock valued at $54,000 after purchasing an additional 492 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction dated 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 sale, the chairman owned 842,361 shares in the company, 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. 0.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NKE shares. Williams Trading dropped their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Piper Sandler lifted their target price on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Royal Bank Of Canada cut their price target on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. UBS Group began coverage on NIKE in a research note on Sunday, July 6th. They issued a "buy" rating on the stock. Finally, 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. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and an average target price of $78.22.

NIKE Stock Performance

NIKE stock traded down $0.61 during midday trading on Tuesday, reaching $76.82. 6,858,929 shares of the company's stock were exchanged, compared to its average volume of 16,779,396. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The stock's 50-day simple moving average is $71.36 and its 200 day simple moving average is $67.56. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The firm has a market cap of $113.46 billion, a price-to-earnings ratio of 35.56, a P/E/G ratio of 2.80 and a beta of 1.27.

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

NIKE Announces Dividend

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

NIKE 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.