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Davidson Trust Co. Acquires Shares of 18,496 NIKE, Inc. (NYSE:NKE)

Financial News Live · Jan 27, 2023 17:03

Davidson Trust Co. acquired a new stake in NIKE, Inc. (NYSE:NKE – Get Rating) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 18,496 shares of the footwear maker's stock, valued at approximately $1,537,000. NIKE makes up 1.5% of Davidson Trust Co.'s holdings, making the stock its 20th largest position.

Several other large investors also recently added to or reduced their stakes in NKE. LFA Lugano Financial Advisors SA increased its stake in NIKE by 63.3% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 258 shares of the footwear maker's stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Worth Asset Management LLC acquired a new stake in shares of NIKE in the first quarter worth $32,000. Heritage Financial Services LLC acquired a new stake in shares of NIKE in the second quarter worth $33,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of NIKE in the third quarter worth $33,000. Finally, Total Clarity Wealth Management Inc. acquired a new stake in shares of NIKE in the second quarter worth $34,000. 63.20% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In related news, EVP Monique S. Matheson sold 5,000 shares of the business's stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $124.00, for a total transaction of $620,000.00. Following the completion of the sale, the executive vice president now owns 60,213 shares in the company, valued at $7,466,412. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other NIKE news, EVP Monique S. Matheson sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $108.16, for a total value of $1,081,600.00. Following the completion of the sale, the executive vice president now owns 60,213 shares in the company, valued at $6,512,638.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Monique S. Matheson sold 5,000 shares of the business's stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $124.00, for a total value of $620,000.00. Following the completion of the sale, the executive vice president now owns 60,213 shares of the company's stock, valued at approximately $7,466,412. The disclosure for this sale can be found here. Insiders sold a total of 25,882 shares of company stock worth $2,831,011 over the last 90 days. 0.40% of the stock is owned by insiders.

NIKE Trading Down 0.1 %

NYSE:NKE traded down $0.17 on Friday, reaching $127.36. 1,806,214 shares of the company's stock were exchanged, compared to its average volume of 6,494,812. The business has a fifty day moving average of $115.92 and a 200-day moving average of $107.07. The firm has a market capitalization of $197.48 billion, a price-to-earnings ratio of 35.76, a price-to-earnings-growth ratio of 4.26 and a beta of 1.09. NIKE, Inc. has a 52-week low of $82.22 and a 52-week high of $149.68. The company has a quick ratio of 1.78, a current ratio of 2.69 and a debt-to-equity ratio of 0.58.

NIKE (NYSE:NKE – Get Rating) last announced its quarterly earnings data on Tuesday, December 20th. The footwear maker reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.20. The company had revenue of $13.32 billion for the quarter, compared to the consensus estimate of $12.61 billion. NIKE had a net margin of 11.47% and a return on equity of 36.83%. As a group, analysts expect that NIKE, Inc. will post 3.11 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 28th. Investors of record on Monday, December 5th were paid a dividend of $0.34 per share. This is a boost from NIKE's previous quarterly dividend of $0.31. The ex-dividend date was Friday, December 2nd. This represents a $1.36 annualized dividend and a yield of 1.07%. NIKE's payout ratio is presently 38.31%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NKE. Credit Suisse Group set a $132.00 price objective on shares of NIKE in a research note on Tuesday, January 3rd. Robert W. Baird lifted their price target on NIKE from $120.00 to $130.00 in a research note on Wednesday, December 21st. Argus lowered shares of NIKE from a "buy" rating to a "hold" rating in a report on Monday, October 3rd. Erste Group Bank cut NIKE from a "buy" rating to a "hold" rating in a research report on Wednesday, October 5th. Finally, Morgan Stanley upped their target price on shares of NIKE from $127.00 to $138.00 and gave the stock an "overweight" rating in a report on Wednesday, December 21st. Twelve investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $129.18.

NIKE Company Profile

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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.