Sender Co & Partners Inc. Purchases 34,922 Shares of NIKE, Inc. $NKE

Key Points

• Sender Co & Partners Inc. increased its holdings in NIKE by 73.3%, acquiring an additional 34,922 shares during the first quarter, making NIKE its 7th largest holding worth $5,239,000.
• NIKE reported a quarterly EPS of $0.14, exceeding analysts' expectations, and noted a revenue decline of 11.9% year-over-year, totaling $11.10 billion.
• NIKE's quarterly dividend of $0.40 will be paid on October 1st, 2023, representing a 2.2% yield and a payout ratio of 74.07%.

Sender Co & Partners Inc. boosted its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 73.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,536 shares of the footwear maker's stock after purchasing an additional 34,922 shares during the period. NIKE makes up about 2.7% of Sender Co & Partners Inc.'s investment portfolio, making the stock its 7th biggest holding. Sender Co & Partners Inc.'s holdings in NIKE were worth $5,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after buying an additional 4,957,494 shares in the last quarter. Wellington Management Group LLP lifted its position in NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock worth $2,880,971,000 after acquiring an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Bank of New York Mellon Corp grew its position in NIKE by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after acquiring an additional 620,214 shares in the last quarter. Finally, Flossbach Von Storch SE raised its stake in shares of NIKE by 24.0% during the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock valued at $652,995,000 after purchasing an additional 1,988,547 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NKE. Jefferies Financial Group restated a "buy" rating and issued a $115.00 target price on shares of NIKE in a research note on Friday, August 22nd. UBS Group started coverage on shares of NIKE in a research report on Sunday, July 6th. They issued a "buy" rating for the company. Truist Financial lowered their target price on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Tuesday, June 24th. TD Cowen upgraded NIKE from a "hold" rating to a "buy" rating and boosted their price target for the stock from $62.00 to $85.00 in a research note on Wednesday. Finally, Barclays raised their price objective on NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $78.67.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.80% of the stock is owned by corporate insiders.

NIKE Stock Performance

Shares of NKE stock traded up $0.62 on Wednesday, hitting $74.22. 11,220,426 shares of the stock traded hands, compared to its average volume of 9,803,136. The company has a market capitalization of $109.61 billion, a PE ratio of 34.07, a PEG ratio of 2.67 and a beta of 1.24. The company's fifty day moving average is $75.54 and its 200 day moving average is $67.87. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $10.69 billion. During the same period in the prior year, the company earned $0.99 earnings per share. The firm'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 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid 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 2.2%. NIKE's dividend payout ratio is 74.07%.

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.