Rockland Trust Co. Grows Holdings in NIKE, Inc. (NYSE:NKE)

Rockland Trust Co. grew its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 26.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 247,648 shares of the footwear maker's stock after buying an additional 52,134 shares during the quarter. Rockland Trust Co.'s holdings in NIKE were worth $15,721,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NKE. Brighton Jones LLC raised 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 worth $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Essex Financial Services Inc. increased its position in shares of NIKE by 43.0% during the fourth quarter. Essex Financial Services Inc. now owns 6,397 shares of the footwear maker's stock valued at $484,000 after buying an additional 1,925 shares during the period. Kentucky Trust Co bought a new position in NIKE in the fourth quarter worth about $72,000. Avidian Wealth Enterprises LLC lifted its holdings in NIKE by 40.5% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 10,537 shares of the footwear maker's stock worth $797,000 after buying an additional 3,036 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in NIKE by 26.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 410,249 shares of the footwear maker's stock valued at $30,262,000 after acquiring an additional 86,256 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NKE stock traded down $2.36 on Friday, hitting $60.44. The company had a trading volume of 16,491,618 shares, compared to its average volume of 15,169,330. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04. The stock has a market cap of $89.40 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 2.52 and a beta of 1.21. The stock's 50-day simple moving average is $59.23 and its 200 day simple moving average is $68.85.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company's revenue for the quarter was down 9.1% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. As a group, equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Monday, June 2nd. NIKE's payout ratio is currently 53.16%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Robert W. Baird lowered their target price on NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Citigroup lowered their price objective on NIKE from $72.00 to $57.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Truist Financial decreased their price target on shares of NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Finally, Needham & Company LLC dropped their price objective on shares of NIKE from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. Seventeen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $80.26.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company's stock.

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.