Smithbridge Asset Management Inc. DE Invests $2.71 Million in NIKE, Inc. (NYSE:NKE)

Smithbridge Asset Management Inc. DE purchased a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 42,616 shares of the footwear maker's stock, valued at approximately $2,705,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Brighton Jones LLC lifted its stake in shares of NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after buying an additional 160,980 shares during the last quarter. Essex Financial Services Inc. lifted its position in NIKE by 43.0% during the fourth quarter. Essex Financial Services Inc. now owns 6,397 shares of the footwear maker's stock worth $484,000 after acquiring an additional 1,925 shares during the last quarter. Kentucky Trust Co bought a new stake in shares of NIKE during the fourth quarter worth approximately $72,000. Avidian Wealth Enterprises LLC grew its position in shares of NIKE by 40.5% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 10,537 shares of the footwear maker's stock valued at $797,000 after purchasing an additional 3,036 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of NIKE by 26.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 410,249 shares of the footwear maker's stock worth $30,262,000 after purchasing an additional 86,256 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Stock Down 3.8%

NYSE NKE traded down $2.36 during trading hours on Friday, hitting $60.44. The company's stock had a trading volume of 16,491,618 shares, compared to its average volume of 15,169,330. The company has a market capitalization of $89.40 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. 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 52 week low of $52.28 and a 52 week high of $98.04. The company's 50-day simple moving average is $59.23 and its two-hundred day simple moving average is $68.85.

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

NIKE Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Needham & Company LLC dropped their price target on NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a report on Monday, March 17th. Truist Financial dropped their target price on NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a report on Friday, March 21st. UBS Group dropped their target price on NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a report on Friday, March 21st. Citigroup dropped their target price on NIKE from $72.00 to $57.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Finally, China Renaissance initiated coverage on NIKE in a research note on Wednesday, March 19th. They issued a "hold" rating for the company. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.26.

Insider Transactions at NIKE

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