Sloy Dahl & Holst LLC Raises Stock Position in NIKE, Inc. $NKE

Sloy Dahl & Holst LLC raised its position in NIKE, Inc. (NYSE:NKE) by 16.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,253 shares of the footwear maker’s stock after acquiring an additional 879 shares during the period. Sloy Dahl & Holst LLC’s holdings in NIKE were worth $444,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NKE. Stone House Investment Management LLC purchased a new position in NIKE in the first quarter worth approximately $25,000. Mascoma Wealth Management LLC acquired a new position in shares of NIKE in the 2nd quarter valued at $26,000. Halbert Hargrove Global Advisors LLC grew its holdings in shares of NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the period. Saudi Central Bank acquired a new stake in shares of NIKE during the 1st quarter worth about $30,000. Finally, Matrix Trust Co raised its holdings in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 1.0%

Shares of NYSE:NKE opened at $69.03 on Thursday. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The stock has a market cap of $102.03 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. The firm’s 50 day moving average price is $72.67 and its 200 day moving average price is $67.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio is currently 82.05%.

Analysts Set New Price Targets

NKE has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $78.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 price objective on shares of NIKE in a report on Monday, September 29th. Zacks Research upgraded NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Truist Financial reaffirmed a “buy” rating and issued a $85.00 target price on shares of NIKE in a research report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $82.21.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.80% 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.