NIKE, Inc. (NYSE:NKE) Holdings Reduced by Albion Financial Group UT

11 Oct 2024, 22:13 by Michael Walen · The Markets Daily

Albion Financial Group UT cut its holdings in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 17.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,182 shares of the footwear maker’s stock after selling 894 shares during the period. Albion Financial Group UT’s holdings in NIKE were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bell Investment Advisors Inc boosted its holdings in NIKE by 4.7% during the fourth quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock worth $283,000 after buying an additional 118 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in shares of NIKE by 16.3% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 348,146 shares of the footwear maker’s stock worth $37,798,000 after acquiring an additional 48,875 shares in the last quarter. Grace & Mercy Foundation Inc. acquired a new position in shares of NIKE in the 4th quarter worth $977,000. Groupama Asset Managment acquired a new stake in shares of NIKE during the fourth quarter worth $20,765,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NKE. Robert W. Baird lifted their price target on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Sanford C. Bernstein reduced their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Guggenheim lowered their price target on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler reissued a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. Finally, Wells Fargo & Company lifted their target price on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $96.56.

Check Out Our Latest Research Report on NIKE

NIKE Price Performance

Shares of NKE stock opened at $82.13 on Friday. The firm’s 50 day moving average price is $81.49 and its two-hundred day moving average price is $85.77. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The stock has a market cap of $123.14 billion, a PE ratio of 23.53, a PEG ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE – Get Free Report) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the company posted $0.94 EPS. NIKE’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, analysts forecast that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.80%. NIKE’s payout ratio is 42.41%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

NIKE Company Profile

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