Simplicity Wealth LLC Acquires 14,607 Shares of NIKE, Inc. $NKE

Key Points

• Simplicity Wealth LLC significantly increased its holdings in NIKE, Inc. by 269.7%, acquiring an additional 14,607 shares in the second quarter, bringing its total to 20,023 shares worth approximately $1.42 million.
• In the first quarter, several hedge funds also raised their stakes in NIKE, with Goldman Sachs Group Inc. leading with a whopping 344.2% increase, acquiring over 20 million additional shares.
• NIKE recently declared a quarterly dividend of $0.40, translating to an annual yield of 2.2%, while the current dividend payout ratio stands at 82.05%.

Simplicity Wealth LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 269.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,023 shares of the footwear maker's stock after buying an additional 14,607 shares during the quarter. Simplicity Wealth LLC's holdings in NIKE were worth $1,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NKE shares. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. The Goldman Sachs Group set a $85.00 target price on shares of NIKE and gave the company a "buy" rating in a report on Thursday, September 25th. Truist Financial restated a "buy" rating and issued a $85.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Sanford C. Bernstein reiterated a "buy" rating and set a $90.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of NIKE in a research note on Saturday, September 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, NIKE presently has an average rating of "Moderate Buy" and an average target price of $81.57.

Insider Activity

In related news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the transaction, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.80% of the company's stock.

NIKE Trading Down 0.9%

Shares of NKE opened at $71.25 on Tuesday. The company's fifty day simple moving average is $74.46 and its 200-day simple moving average is $67.26. The company has a market cap of $105.23 billion, a P/E ratio of 36.54, a P/E/G ratio of 2.64 and a beta of 1.29. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76.

NIKE (NYSE:NKE - Get Free Report) last released 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. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion during the quarter, compared to analysts' expectations of $10.96 billion. During the same period in the previous year, the company earned $0.70 EPS. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. NIKE's dividend payout ratio is presently 82.05%.

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.

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