Van Hulzen Asset Management LLC Grows Stock Position in NIKE, Inc. $NKE

Key Points

• Van Hulzen Asset Management LLC significantly increased its stake in NIKE, Inc. by 7,438.7%, acquiring a total of 88,504 shares worth $5.6 million.
• Institutional investors collectively own 64.25% of NIKE's stock, with multiple firms increasing their positions in the first quarter.
• NIKE recently announced a quarterly dividend of $0.40 per share, representing an annualized dividend yield of 2.1%.

Van Hulzen Asset Management LLC increased its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 7,438.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 88,504 shares of the footwear maker's stock after buying an additional 87,330 shares during the quarter. Van Hulzen Asset Management LLC's holdings in NIKE were worth $5,618,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NKE. Allstate Corp grew its stake in shares of NIKE by 18.5% in the first quarter. Allstate Corp now owns 41,856 shares of the footwear maker's stock worth $2,657,000 after acquiring an additional 6,546 shares in the last quarter. D.B. Root & Company LLC grew its stake in shares of NIKE by 11.7% in the first quarter. D.B. Root & Company LLC now owns 18,618 shares of the footwear maker's stock worth $1,182,000 after acquiring an additional 1,954 shares in the last quarter. 1832 Asset Management L.P. grew its stake in shares of NIKE by 2.6% in the first quarter. 1832 Asset Management L.P. now owns 1,239,051 shares of the footwear maker's stock worth $78,655,000 after acquiring an additional 30,965 shares in the last quarter. Compound Planning Inc. grew its stake in shares of NIKE by 15.4% in the first quarter. Compound Planning Inc. now owns 22,573 shares of the footwear maker's stock worth $1,433,000 after acquiring an additional 3,008 shares in the last quarter. Finally, Gould Capital LLC grew its stake in shares of NIKE by 4.6% in the first quarter. Gould Capital LLC now owns 42,227 shares of the footwear maker's stock worth $2,681,000 after acquiring an additional 1,862 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NKE shares. Bank of America boosted their price target on shares of NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Piper Sandler boosted their target price on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. Argus upgraded shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. Wells Fargo & Company boosted their target price on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Finally, Morgan Stanley boosted their target price on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction dated 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 sale, the chairman directly owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.80% of the company's stock.

NIKE Price Performance

Shares of NKE opened at $76.10 on Friday. The firm has a fifty day moving average price of $72.15 and a 200 day moving average price of $67.68. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The stock has a market cap of $112.39 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 2.77 and a beta of 1.27.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating 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 business had revenue of $11.10 billion during 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 business's revenue was down 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio is presently 74.07%.

NIKE 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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