Schaper Benz & Wise Investment Counsel Inc. WI Boosts Stock Position in NIKE, Inc. $NKE

Key Points

• Schaper Benz & Wise Investment Counsel Inc. increased its stake in NIKE by 15.5%, adding 20,861 shares for a total value of approximately $11.07 million.
• Several institutional investors have also raised their positions in NIKE, with hedge funds now owning 64.25% of the company's stock.
• NIKE reported strong quarterly earnings, with an EPS of $0.49, exceeding analysts' expectations of $0.27, and revenue reaching $11.72 billion.

Schaper Benz & Wise Investment Counsel Inc. WI boosted its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 15.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,763 shares of the footwear maker's stock after purchasing an additional 20,861 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI's holdings in NIKE were worth $11,065,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bleakley Financial Group LLC lifted its position in shares of NIKE by 9.0% during the 2nd quarter. Bleakley Financial Group LLC now owns 13,245 shares of the footwear maker's stock valued at $941,000 after buying an additional 1,095 shares during the last quarter. Principle Wealth Partners LLC lifted its position in shares of NIKE by 12.5% during the 2nd quarter. Principle Wealth Partners LLC now owns 4,601 shares of the footwear maker's stock valued at $327,000 after buying an additional 512 shares during the last quarter. Sloy Dahl & Holst LLC lifted its position in shares of NIKE by 16.4% during the 2nd quarter. Sloy Dahl & Holst LLC now owns 6,253 shares of the footwear maker's stock valued at $444,000 after buying an additional 879 shares during the last quarter. Granite Harbor Advisors Inc. purchased a new position in shares of NIKE during the 2nd quarter valued at $270,000. Finally, Freedom Investment Management Inc. purchased a new position in shares of NIKE during the 2nd quarter valued at $262,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on NKE. Needham & Company LLC reaffirmed a "buy" rating and set a $78.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Truist Financial reissued a "buy" rating and set a $85.00 price objective on shares of NIKE in a report on Wednesday, October 1st. Sanford C. Bernstein reissued a "buy" rating and set a $90.00 price objective on shares of NIKE in a report on Monday, October 13th. Jefferies Financial Group restated a "buy" rating and issued a $115.00 target price on shares of NIKE in a research note on Monday, September 29th. Finally, The Goldman Sachs Group set a $85.00 target price on NIKE and gave the stock a "buy" rating in a research note on Thursday, September 25th. Three 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.21.

NIKE Price Performance

Shares of NIKE stock opened at $69.03 on Thursday. 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 simple moving average is $72.67 and its two-hundred day simple moving average is $67.57. The stock has a market capitalization of $102.03 billion, a P/E ratio of 35.40, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to analysts' expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business's quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 EPS. Analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is presently 82.05%.

Insider Buying and Selling

In other news, EVP Treasure Heinle sold 4,300 shares of the firm's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This trade represents a 12.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction that occurred on 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 transaction, the chairman owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.80% of the company's stock.

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.

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