Paralel Advisors LLC Purchases Shares of 42,086 NIKE, Inc. $NKE

Key Points

• Paralel Advisors LLC acquired 42,086 shares of NIKE, valued at approximately $2.99 million, adding to growing institutional investment in the company.
• NIKE's quarterly earnings report showed an EPS of $0.49, significantly beating analysts' expectations, and revenue increased by 1.0% year-over-year to $11.72 billion.
• The company declared a quarterly dividend of $0.40, representing an annualized yield of 2.3% and a payout ratio of 82.05%.

Paralel Advisors LLC acquired a new position in NIKE, Inc. (NYSE:NKE - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 42,086 shares of the footwear maker's stock, valued at approximately $2,990,000.

Several other institutional investors have also recently modified their holdings of NKE. Stone House Investment Management LLC bought a new stake in NIKE in the 1st quarter worth approximately $25,000. Mascoma Wealth Management LLC purchased a new position in shares of NIKE during the second quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC raised its stake in shares of NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock worth $28,000 after acquiring an additional 362 shares in the last quarter. Saudi Central Bank purchased a new position in shares of NIKE during the first quarter worth approximately $30,000. Finally, Matrix Trust Co lifted its holdings in shares of 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 acquiring an additional 153 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Up 1.0%

NYSE NKE opened at $69.03 on Thursday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The stock has a market capitalization of $102.03 billion, a PE ratio of 35.40, a PEG ratio of 2.52 and a beta of 1.29. 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 business's 50-day moving average is $72.67 and its 200 day moving average is $67.57.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results 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 return on equity of 21.16% and a net margin of 6.23%.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 company posted $0.70 EPS. NIKE's quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts forecast 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 was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. NIKE's dividend payout ratio (DPR) is presently 82.05%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.80% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Argus raised shares of NIKE to a "buy" rating in a report on Sunday, July 6th. Barclays set a $70.00 price target on shares of NIKE and gave the company a "positive" rating in a research report on Wednesday, October 1st. HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a report on Friday, June 27th. Truist Financial restated a "buy" rating and set a $85.00 target price on shares of NIKE in a report on Wednesday, October 1st. Finally, DZ Bank upgraded NIKE from a "hold" rating to a "buy" rating in a research report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold 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 $82.21.

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.

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