NIKE, Inc. $NKE Shares Bought by Tobam

Tobam increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 27.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,271 shares of the footwear maker’s stock after buying an additional 7,989 shares during the quarter. Tobam’s holdings in NIKE were worth $2,648,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mitchell Mcleod Pugh & Williams Inc. raised its position in NIKE by 1.0% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock valued at $1,007,000 after purchasing an additional 134 shares in the last quarter. Caldwell Sutter Capital Inc. raised its position in shares of NIKE by 6.3% in the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after buying an additional 142 shares during the last quarter. Salomon & Ludwin LLC grew its stake in shares of NIKE by 10.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock valued at $120,000 after buying an additional 145 shares during the period. Westmount Partners LLC grew its stake in shares of NIKE by 2.9% during the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock valued at $367,000 after acquiring an additional 146 shares in the last quarter. Finally, HB Wealth Management LLC boosted its holdings in NIKE by 0.3% in the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after purchasing an additional 147 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp bought 16,150 shares of the stock in a transaction dated Friday, November 7th. The shares were acquired at an average price of $62.09 per share, with a total value of $1,002,753.50. Following the acquisition, the director owned 21,388 shares in the company, valued at $1,327,980.92. This trade represents a 308.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the business’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 completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NKE has been the subject of several research reports. Cowen upgraded NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, September 10th. DZ Bank raised NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Truist Financial restated a “buy” rating and set a $85.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Finally, Piper Sandler set a $84.00 target price on shares of NIKE and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE Price Performance

Shares of NKE opened at $63.10 on Wednesday. The business’s 50-day moving average is $69.09 and its 200-day moving average is $68.66. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The company has a market capitalization of $93.27 billion, a price-to-earnings ratio of 32.36, a P/E/G ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

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.