21,402 Shares in NIKE, Inc. (NYSE:NKE) Purchased by Gries Financial LLC

Gries Financial LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 21,402 shares of the footwear maker's stock, valued at approximately $1,619,000.

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of NIKE by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker's stock valued at $2,425,886,000 after buying an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC grew its stake in NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker's stock valued at $2,204,451,000 after acquiring an additional 251,411 shares during the period. Fisher Asset Management LLC increased its holdings in NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker's stock worth $910,801,000 after acquiring an additional 583,207 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in NIKE by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker's stock worth $760,716,000 after acquiring an additional 117,187 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company's stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Piper Sandler raised shares of NIKE from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Guggenheim reduced their target price on NIKE from $115.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, October 2nd. Robert W. Baird lowered their price target on NIKE from $110.00 to $105.00 and set an "outperform" rating on the stock in a research note on Monday, December 23rd. Bank of America reduced their price objective on NIKE from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Finally, TD Cowen dropped their target price on shares of NIKE from $78.00 to $73.00 and set a "hold" rating for the company in a report on Monday, November 18th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $89.96.

NIKE Stock Up 2.0 %

NIKE stock traded up $1.55 during mid-day trading on Thursday, hitting $78.13. The company had a trading volume of 7,166,193 shares, compared to its average volume of 11,945,879. The stock has a market cap of $115.56 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.36 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The business has a fifty day moving average of $75.55 and a 200 day moving average of $77.95.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE's revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. On average, sell-side analysts expect that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE's previous quarterly dividend of $0.37. NIKE's dividend payout ratio (DPR) is currently 49.38%.

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.