Retirement Planning Co of New England Inc. Buys Shares of 7,555 NIKE, Inc. $NKE

Key Points

• Retirement Planning Co of New England Inc. acquired a new stake in NIKE, Inc. by purchasing 7,555 shares valued at approximately $480,000 in the first quarter.
• NIKE reported quarterly earnings of $0.14 per share, exceeding estimates, but its revenue declined by 11.9% year-over-year, totaling $11.10 billion.
• The company declared a quarterly dividend of $0.40 per share, with a dividend yield of 2.1%, to be paid on October 1st to investors of record on September 2nd.

Retirement Planning Co of New England Inc. bought a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,555 shares of the footwear maker's stock, valued at approximately $480,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after purchasing an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG increased its position in NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after purchasing an additional 17,888 shares in the last quarter. AQR Capital Management LLC increased its position in NIKE by 46.0% during the 4th quarter. AQR Capital Management LLC now owns 116,428 shares of the footwear maker's stock worth $8,810,000 after purchasing an additional 36,673 shares in the last quarter. Triumph Capital Management acquired a new position in NIKE during the 4th quarter worth approximately $215,000. Finally, AlTi Global Inc. increased its position in NIKE by 0.4% in the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after acquiring an additional 150 shares during the period. Institutional investors own 64.25% of the company's stock.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Truist Financial decreased their price target on shares of NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. DZ Bank lowered shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a research note on Thursday, July 10th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of NIKE in a research note on Monday, August 18th. UBS Group started coverage on shares of NIKE in a research note on Sunday, July 6th. They issued a "buy" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a report on Friday, June 20th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

NIKE Price Performance

Shares of NKE stock traded up $0.40 during trading hours on Wednesday, reaching $74.69. The stock had a trading volume of 7,465,443 shares, compared to its average volume of 8,412,580. The stock's fifty day simple moving average is $75.19 and its 200 day simple moving average is $67.98. 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, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The firm has a market capitalization of $110.32 billion, a PE ratio of 34.58, a PEG ratio of 2.81 and a beta of 1.24.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating 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 company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period last year, the business earned $0.99 earnings per share. NIKE's revenue was down 11.9% compared to the same quarter last year. On average, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.1%. NIKE's payout ratio is presently 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.