Farmers & Merchants Investments Inc. Has $17.16 Million Position in NIKE, Inc. (NYSE:NKE)

Farmers & Merchants Investments Inc. raised its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 44.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 194,101 shares of the footwear maker's stock after buying an additional 60,008 shares during the period. Farmers & Merchants Investments Inc.'s holdings in NIKE were worth $17,159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Bristlecone Advisors LLC raised its position in NIKE by 14.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker's stock valued at $8,267,000 after purchasing an additional 11,665 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker's stock valued at $1,970,000 after buying an additional 9,689 shares during the last quarter. Lafayette Investments Inc. lifted its position in NIKE by 90.7% during the 3rd quarter. Lafayette Investments Inc. now owns 46,097 shares of the footwear maker's stock worth $4,075,000 after buying an additional 21,922 shares in the last quarter. FORA Capital LLC bought a new stake in NIKE during the 1st quarter worth about $3,412,000. Finally, Cetera Advisors LLC increased its position in NIKE by 85.5% in the 1st quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker's stock valued at $8,298,000 after acquiring an additional 40,704 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Telsey Advisory Group reduced their target price on shares of NIKE from $100.00 to $96.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their target price on NIKE from $80.00 to $77.00 and set a "neutral" rating for the company in a research note on Wednesday, October 2nd. Williams Trading raised NIKE from a "sell" rating to a "buy" rating and upped their price target for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Royal Bank of Canada lowered their price objective on NIKE from $85.00 to $82.00 and set a "sector perform" rating for the company in a research report on Wednesday, October 2nd. Finally, Truist Financial upgraded shares of NIKE from a "hold" rating to a "buy" rating and upped their target price for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of "Moderate Buy" and a consensus price target of $96.56.

NIKE Stock Down 0.6 %

Shares of NYSE:NKE traded down $0.47 during midday trading on Tuesday, reaching $78.44. 7,237,718 shares of the company were exchanged, compared to its average volume of 11,562,517. The firm has a market cap of $117.61 billion, a PE ratio of 22.48, a P/E/G ratio of 1.90 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock has a fifty day simple moving average of $82.52 and a two-hundred day simple moving average of $84.72. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company's revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.76 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.89%. NIKE's dividend payout ratio is currently 42.41%.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm'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 transaction, the chairman now owns 1,031,226 shares of the company's stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

NIKE 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.