NIKE, Inc. (NYSE:NKE) Stock Holdings Increased by Webster Bank N. A.

14 Oct 2024, 10:54 by Kim Johansen · The Markets Daily

Webster Bank N. A. boosted its stake in NIKE, Inc. (NYSE:NKE – Free Report) by 10.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,477 shares of the footwear maker’s stock after buying an additional 142 shares during the period. Webster Bank N. A.’s holdings in NIKE were worth $131,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Annapolis Financial Services LLC boosted its stake in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares in the last quarter. Transcendent Capital Group LLC grew its stake in shares of NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares during the last quarter. Bruce G. Allen Investments LLC raised its holdings in shares of NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in NIKE during the fourth quarter valued at approximately $42,000. Finally, Triad Wealth Partners LLC bought a new stake in NIKE during the second quarter worth approximately $44,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. 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 available through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

NIKE Trading Up 0.1 %

NYSE NKE opened at $82.15 on Monday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a market cap of $123.99 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The business’s fifty day moving average is $81.66 and its 200 day moving average is $85.58.

NIKE (NYSE:NKE – Get Free Report) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the firm earned $0.94 earnings per share. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, sell-side analysts expect that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. NIKE’s dividend payout ratio is 39.68%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. The Goldman Sachs Group dropped their price target on NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, June 28th. StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Guggenheim lowered their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Royal Bank of Canada reduced their price target on shares of 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, Wells Fargo & Company increased their target price on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

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