Van ECK Associates Corp Raises Holdings in NIKE, Inc. $NKE

Key Points

• Van ECK raised its Nike stake by 1.1% in Q3, adding 56,789 shares to hold 5,315,562 shares worth about $370.65 million (≈0.36% of the company) per its latest 13F filing.
• Insider buying: Directors Timothy D. Cook and Robert Holmes Swan bought 50,000 and 8,691 shares respectively in December, and insiders purchased 75,079 shares (~$4.45M) over the last three months, bringing insider ownership to 0.80%.
• Analyst and market snapshot: Nike carries a consensus rating of "Moderate Buy" with a consensus target of $74.61, while the stock recently opened at $56.56 (market cap ≈ $83.7B) and pays a $0.41 quarterly dividend (≈2.9% yield).

Van ECK Associates Corp increased its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,315,562 shares of the footwear maker's stock after acquiring an additional 56,789 shares during the quarter. Van ECK Associates Corp owned approximately 0.36% of NIKE worth $370,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC bought a new position in shares of NIKE during the second quarter valued at about $31,000. Guerra Advisors Inc bought a new stake in shares of NIKE in the third quarter worth about $34,000. Accredited Wealth Management LLC increased its holdings in NIKE by 268.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker's stock valued at $36,000 after purchasing an additional 376 shares during the period. Abich Financial Wealth Management LLC bought a new position in NIKE during the 3rd quarter valued at approximately $43,000. Finally, Financial Consulate Inc. purchased a new stake in NIKE in the 3rd quarter worth approximately $57,000. Institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

NKE has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft set a $67.00 target price on NIKE in a research note on Thursday, January 8th. DZ Bank reaffirmed a "buy" rating on shares of NIKE in a research report on Friday, December 19th. Citigroup reiterated a "neutral" rating and set a $65.00 price target (down from $70.00) on shares of NIKE in a research report on Friday, December 19th. Piper Sandler set a $75.00 price target on shares of NIKE and gave the stock an "overweight" rating in a research note on Friday, December 19th. Finally, KeyCorp lowered their price objective on shares of NIKE from $90.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, January 22nd. Twenty-two equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $74.61.

NIKE Price Performance

Shares of NYSE NKE opened at $56.56 on Tuesday. The company has a 50 day simple moving average of $63.17 and a two-hundred day simple moving average of $66.19. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $80.19. The company has a market capitalization of $83.73 billion, a price-to-earnings ratio of 33.27, a P/E/G ratio of 2.92 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.06.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.16. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.19 billion. During the same quarter last year, the company earned $0.78 EPS. The firm's revenue for the quarter was up .6% on a year-over-year basis. Analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.41 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.9%. NIKE's dividend payout ratio is presently 96.47%.

Insider Buying and Selling at NIKE

In other NIKE news, Director Timothy D. Cook bought 50,000 shares of NIKE stock in a transaction on Monday, December 22nd. The stock was acquired at an average price of $58.97 per share, with a total value of $2,948,500.00. Following the acquisition, the director owned 105,480 shares in the company, valued at approximately $6,220,155.60. This trade represents a 90.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Holmes Swan bought 8,691 shares of the stock in a transaction on Monday, December 22nd. The shares were bought at an average price of $57.54 per share, for a total transaction of $500,080.14. Following the purchase, the director directly owned 43,293 shares in the company, valued at approximately $2,491,079.22. This trade represents a 25.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 75,079 shares of company stock worth $4,449,887. Insiders own 0.80% of the company's stock.

NIKE Profile

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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