Sei Investments Co. Acquires 19,159 Shares of NIKE, Inc. $NKE

Sei Investments Co. increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 4.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 494,891 shares of the footwear maker’s stock after buying an additional 19,159 shares during the period. Sei Investments Co.’s holdings in NIKE were worth $26,140,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NKE. Brighton Jones LLC grew its position in shares of NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares during the last quarter. Caxton Associates LLP bought a new position in shares of NIKE during the first quarter worth about $311,000. United Bank lifted its stake in shares of NIKE by 11.3% in the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock worth $1,212,000 after acquiring an additional 1,736 shares during the period. NewEdge Advisors LLC lifted its stake in shares of NIKE by 0.3% in the second quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock worth $4,558,000 after acquiring an additional 197 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in NIKE by 6.5% in the second quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock valued at $13,588,000 after acquiring an additional 11,646 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Telsey Advisory Group set a $47.00 target price on shares of NIKE and gave the company a “market perform” rating in a research report on Wednesday, July 1st. HSBC downgraded shares of NIKE from a “buy” rating to a “hold” rating and dropped their price target for the stock from $90.00 to $48.00 in a research report on Monday, April 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of NIKE in a research note on Thursday, June 4th. Piper Sandler decreased their price objective on shares of NIKE from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Finally, Jefferies Financial Group lowered their target price on shares of NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $53.86.

NIKE Trading Up 2.1%

Shares of NKE stock opened at $43.01 on Wednesday. NIKE, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $80.17. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The stock has a 50 day simple moving average of $43.68 and a two-hundred day simple moving average of $50.75. The company has a market cap of $63.81 billion, a P/E ratio of 20.58, a PEG ratio of 1.87 and a beta of 1.12.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 EPS. Research analysts forecast that NIKE, Inc. will post 1.74 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Monday, June 1st. NIKE’s dividend payout ratio (DPR) is presently 78.47%.

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).