Bristlecone Advisors LLC Purchases 11,665 Shares of NIKE, Inc. (NYSE:NKE)

Bristlecone Advisors LLC boosted its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 14.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,521 shares of the footwear maker's stock after purchasing an additional 11,665 shares during the quarter. Bristlecone Advisors LLC's holdings in NIKE were worth $8,267,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of NKE. Longview Partners Guernsey LTD acquired a new stake in NIKE in the first quarter worth $533,533,000. Capital World Investors grew its holdings in shares of NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker's stock valued at $487,327,000 after buying an additional 4,457,376 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker's stock valued at $832,623,000 after buying an additional 2,775,510 shares during the last quarter. PineStone Asset Management Inc. grew its holdings in shares of NIKE by 138.3% during the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker's stock valued at $204,681,000 after buying an additional 1,576,049 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of NIKE by 351.7% during the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker's stock valued at $150,101,000 after buying an additional 1,550,611 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Mark G. Parker sold 52,487 shares of the company's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company's stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

NIKE Price Performance

NKE stock traded down $0.19 during midday trading on Friday, reaching $78.85. The company had a trading volume of 9,385,379 shares, compared to its average volume of 11,607,228. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a market capitalization of $119.01 billion, a P/E ratio of 21.14, a P/E/G ratio of 1.95 and a beta of 1.02. The firm has a 50-day moving average price of $82.71 and a 200-day moving average price of $84.91.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) 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 company had revenue of $11.59 billion during the quarter, compared to analysts' expectations of $11.64 billion. During the same quarter in the prior year, the company earned $0.94 EPS. The firm's revenue was down 10.4% on a year-over-year basis. On average, research analysts anticipate that NIKE, Inc. will post 2.78 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.88%. NIKE's dividend payout ratio (DPR) is 39.68%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NKE shares. UBS Group lifted their price objective on shares of NIKE from $78.00 to $82.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Royal Bank of Canada reduced their price objective on shares of NIKE from $85.00 to $82.00 and set a "sector perform" rating for the company in a report on Wednesday, October 2nd. Robert W. Baird lifted their price objective on shares of NIKE from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, September 20th. Telsey Advisory Group cut their price target on shares of NIKE from $100.00 to $96.00 and set an "outperform" rating on the stock in a report on Wednesday, October 2nd. Finally, Truist Financial upgraded shares of NIKE from a "hold" rating to a "buy" rating and boosted their price target for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $96.56.

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.