54,870 Shares in NIKE, Inc. $NKE Bought by Peloton Wealth Strategists

Peloton Wealth Strategists purchased a new stake in NIKE, Inc. (NYSE:NKE) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 54,870 shares of the footwear maker’s stock, valued at approximately $3,496,000. NIKE comprises about 1.4% of Peloton Wealth Strategists’ holdings, making the stock its 27th biggest holding.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of NIKE by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker’s stock valued at $7,453,658,000 after purchasing an additional 1,702,342 shares during the last quarter. State Street Corp increased its position in NIKE by 2.2% during the fourth quarter. State Street Corp now owns 59,315,606 shares of the footwear maker’s stock worth $3,802,807,000 after buying an additional 1,275,494 shares during the period. Capital World Investors lifted its stake in NIKE by 16.2% in the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after buying an additional 6,830,938 shares during the last quarter. Geode Capital Management LLC lifted its stake in NIKE by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker’s stock valued at $1,677,251,000 after buying an additional 233,925 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $829,956,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $54.00 to $51.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. Wells Fargo & Company set a $45.00 price target on shares of NIKE and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Truist Financial lowered their price objective on shares of NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Needham & Company LLC restated a “hold” rating on shares of NIKE in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada downgraded shares of NIKE from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $70.00 to $50.00 in a research note on Wednesday, June 10th. Fifteen equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.89.

Insider Activity

In related news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction on Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the transaction, the executive vice president directly owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John W. Rogers, Jr. bought 4,000 shares of the stock in a transaction on Thursday, April 9th. The stock was purchased at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following the acquisition, the director directly owned 41,022 shares of the company’s stock, valued at $1,777,893.48. The trade was a 10.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 64,441 shares of company stock valued at $2,734,204 in the last 90 days. Insiders own 0.80% of the company’s stock.

NIKE Stock Down 0.3%

Shares of NYSE NKE opened at $45.06 on Wednesday. The stock has a market capitalization of $66.72 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. NIKE, Inc. has a 52 week low of $41.35 and a 52 week high of $80.17. The firm has a 50-day moving average price of $44.30 and a 200 day moving average price of $55.14. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The company had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same period last year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 1.49 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio (DPR) is presently 108.61%.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).