Grandfield & Dodd LLC Buys 5,422 Shares of NIKE, Inc. $NKE

Grandfield & Dodd LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 6.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,625 shares of the footwear maker’s stock after acquiring an additional 5,422 shares during the period. Grandfield & Dodd LLC’s holdings in NIKE were worth $6,722,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares during the period. Wellington Management Group LLP boosted its stake in NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after buying an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after buying an additional 20,688,013 shares during the period. Flossbach Von Storch SE boosted its position in NIKE by 9.5% in the 2nd quarter. Flossbach Von Storch SE now owns 11,265,390 shares of the footwear maker’s stock valued at $800,293,000 after buying an additional 978,771 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in NIKE by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,507,250 shares of the footwear maker’s stock worth $603,445,000 after purchasing an additional 301,497 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NKE stock opened at $66.08 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The company has a market cap of $97.68 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The firm has a 50 day moving average of $68.69 and a 200-day moving average of $68.61.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the previous year, the business posted $0.70 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on NKE. UBS Group set a $71.00 target price on NIKE and gave the stock a “neutral” rating in a report on Friday, September 19th. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and boosted their price target for the company from $62.00 to $85.00 in a report on Wednesday, September 10th. The Goldman Sachs Group set a $85.00 price target on shares of NIKE and gave the company a “buy” rating in a research note on Thursday, September 25th. Jefferies Financial Group reissued a “buy” rating and issued a $115.00 price target on shares of NIKE in a research note on Monday, September 29th. Finally, Piper Sandler set a $84.00 price target on shares of NIKE and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.72.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 16,150 shares of NIKE stock in a transaction on Friday, November 7th. The shares were bought at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the purchase, the director owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This represents a 308.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.80% of the stock is owned by insiders.

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.