NIKE, Inc. $NKE Shares Purchased by Econ Financial Services Corp

Econ Financial Services Corp lifted its stake in NIKE, Inc. (NYSE:NKE) by 39.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 49,463 shares of the footwear maker’s stock after acquiring an additional 13,983 shares during the quarter. NIKE accounts for 1.8% of Econ Financial Services Corp’s investment portfolio, making the stock its 13th largest position. Econ Financial Services Corp’s holdings in NIKE were worth $3,514,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Mascoma Wealth Management LLC acquired a new position in shares of NIKE in the 2nd quarter worth approximately $26,000. Stone House Investment Management LLC acquired a new position in shares of NIKE in the 1st quarter worth approximately $25,000. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 362 shares during the last quarter. Matrix Trust Co lifted its holdings in shares of NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares during the last quarter. Finally, Saudi Central Bank acquired a new position in shares of NIKE in the 1st quarter worth approximately $30,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Down 1.7%

Shares of NYSE:NKE opened at $67.40 on Wednesday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The company’s 50 day moving average is $72.01 and its two-hundred day moving average is $68.10. 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 $99.63 billion, a PE ratio of 34.57, a P/E/G ratio of 2.53 and a beta of 1.29.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the prior year, the firm posted $0.70 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is 82.05%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NKE. Argus upgraded shares of NIKE to a “buy” rating in a report on Sunday, July 6th. Royal Bank Of Canada reiterated an “outperform” rating on shares of NIKE in a report on Friday, October 10th. DZ Bank upgraded shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Truist Financial reiterated a “buy” rating and set a $85.00 target price on shares of NIKE in a report on Wednesday, October 1st. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $115.00 target price on shares of NIKE in a report on Monday, September 29th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.21.

Insiders Place Their Bets

In related news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.80% of the company’s stock.

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.