William Allan Corp Has $5.35 Million Holdings in NIKE, Inc. $NKE

William Allan Corp boosted its position in NIKE, Inc. (NYSE:NKE) by 31.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,335 shares of the footwear maker’s stock after buying an additional 18,031 shares during the quarter. NIKE makes up about 3.1% of William Allan Corp’s holdings, making the stock its 14th biggest position. William Allan Corp’s holdings in NIKE were worth $5,352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after buying an additional 4,957,494 shares during the last quarter. Wellington Management Group LLP grew its stake in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after buying an additional 9,043,180 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after buying an additional 20,688,013 shares during the last quarter. Bank of New York Mellon Corp grew its stake in NIKE by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock valued at $1,332,331,000 after buying an additional 620,214 shares during the last quarter. Finally, Flossbach Von Storch SE grew its stake in NIKE by 24.0% in the 1st 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 and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on NKE. Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Morgan Stanley set a $72.00 price target on shares of NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. raised their price target on shares of NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Piper Sandler set a $84.00 price target on shares of NIKE and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of NIKE in a research report on Friday, October 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.21.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business’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 transaction, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.

NIKE Price Performance

Shares of NIKE stock opened at $68.51 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The firm’s 50-day simple moving average is $72.20 and its 200-day simple moving average is $68.01. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. The firm has a market cap of $101.26 billion, a P/E ratio of 35.13, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same period in the previous year, the business earned $0.70 EPS. The firm’s revenue was up 1.0% on a year-over-year basis. As a group, research 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 was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

About NIKE

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.