Saturna Capital Corp Takes $6.67 Million Position in NIKE, Inc. (NYSE:NKE)

Saturna Capital Corp acquired a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 105,000 shares of the footwear maker's stock, valued at approximately $6,665,000.

Other hedge funds have also recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new position in NIKE during the fourth quarter worth $28,000. EnRich Financial Partners LLC raised its stake in NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after acquiring an additional 273 shares in the last quarter. Roxbury Financial LLC raised its stake in NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after acquiring an additional 201 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE grew its holdings in shares of NIKE by 95.1% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock worth $39,000 after purchasing an additional 250 shares during the last quarter. Finally, Putney Financial Group LLC bought a new stake in shares of NIKE during the fourth quarter worth $40,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company's stock.

NIKE Trading Down 0.7%

NKE traded down $0.48 during midday trading on Friday, reaching $72.50. 8,792,733 shares of the company were exchanged, compared to its average volume of 15,097,390. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The stock has a market capitalization of $107.24 billion, a P/E ratio of 33.56, a PEG ratio of 2.70 and a beta of 1.25. The stock's 50-day simple moving average is $65.21 and its 200 day simple moving average is $67.29.

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

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Monday, June 2nd. NIKE's dividend payout ratio (DPR) is currently 74.07%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. BMO Capital Markets decreased their target price on NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. JPMorgan Chase & Co. increased their target price on NIKE from $56.00 to $64.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. Williams Trading decreased their target price on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Truist Financial decreased their target price on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a report on Tuesday, June 24th. Finally, UBS Group assumed coverage on NIKE in a report on Sunday, July 6th. They set a "buy" rating on the stock. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, NIKE presently has a consensus rating of "Moderate Buy" and an average target price of $77.15.

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.