Wellington Management Group LLP Purchases 9,043,180 Shares of NIKE, Inc. $NKE

Key Points

• Wellington Management Group LLP increased its holdings in NIKE by 24.9%, acquiring an additional 9,043,180 shares, bringing its total to approximately 45.4 million shares valued at $2.88 billion.
• Several large institutional investors, including Goldman Sachs Group Inc., significantly increased their stakes in NIKE, indicating strong investor confidence in the company.
• NIKE recently announced a quarterly dividend of $0.40 per share, representing a 2.1% yield and showcasing its commitment to returning value to shareholders.

Wellington Management Group LLP boosted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 24.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,383,916 shares of the footwear maker's stock after buying an additional 9,043,180 shares during the quarter. Wellington Management Group LLP owned approximately 3.07% of NIKE worth $2,880,971,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NKE. Vanguard Group Inc. increased its position in NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Bank of New York Mellon Corp lifted its stake 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 worth $1,332,331,000 after acquiring an additional 620,214 shares during the period. Northern Trust Corp lifted its stake in NIKE by 8.8% in the fourth quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock worth $1,111,625,000 after acquiring an additional 1,183,641 shares during the period. Finally, Flossbach Von Storch SE lifted its position 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 buying an additional 1,988,547 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NKE has been the subject of several research analyst reports. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. The Goldman Sachs Group increased their target price on NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Truist Financial cut their price objective on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. Argus raised NIKE to a "buy" rating in a research report on Sunday, July 6th. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $70.00 price objective on shares of NIKE in a research report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

NIKE Price Performance

NKE stock opened at $77.17 on Monday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company has a fifty day simple moving average of $71.05 and a two-hundred day simple moving average of $67.56. The firm has a market capitalization of $113.97 billion, a P/E ratio of 35.73, a price-to-earnings-growth ratio of 2.80 and a beta of 1.27.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $10.69 billion. During the same quarter last year, the business earned $0.99 earnings per share. NIKE's quarterly revenue was down 11.9% compared to the same quarter last year. Analysts anticipate 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. Shareholders of record on Tuesday, September 2nd will be given 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 2.1%. NIKE's dividend payout ratio (DPR) is 74.07%.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is owned by company insiders.

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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