Thomas Story & Son LLC Purchases 225 Shares of NIKE, Inc. (NYSE:NKE)

Thomas Story & Son LLC raised its position in NIKE, Inc. (NYSE:NKE) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,855 shares of the footwear maker’s stock after purchasing an additional 225 shares during the quarter. NIKE accounts for approximately 1.0% of Thomas Story & Son LLC’s holdings, making the stock its 29th biggest holding. Thomas Story & Son LLC’s holdings in NIKE were worth $2,401,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Aveo Capital Partners LLC boosted its stake in shares of NIKE by 118.1% during the second quarter. Aveo Capital Partners LLC now owns 14,669 shares of the footwear maker’s stock valued at $1,106,000 after purchasing an additional 7,943 shares during the period. Absher Wealth Management LLC lifted its stake in NIKE by 15.0% in the second quarter. Absher Wealth Management LLC now owns 312,132 shares of the footwear maker’s stock worth $23,525,000 after acquiring an additional 40,803 shares during the period. Octavia Wealth Advisors LLC bought a new position in NIKE during the 2nd quarter worth about $458,000. Magnus Financial Group LLC increased its position in NIKE by 3.1% during the 2nd quarter. Magnus Financial Group LLC now owns 18,062 shares of the footwear maker’s stock valued at $1,361,000 after purchasing an additional 547 shares during the period. Finally, Legacy Capital Wealth Partners LLC purchased a new stake in shares of NIKE in the 2nd quarter worth approximately $330,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 1.3 %

Shares of NKE stock traded down $1.04 during trading hours on Wednesday, reaching $80.28. 4,576,363 shares of the stock were exchanged, compared to its average volume of 11,405,484. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The business’s fifty day moving average is $77.36 and its two-hundred day moving average is $89.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The firm has a market capitalization of $121.17 billion, a P/E ratio of 21.80, a P/E/G ratio of 2.19 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the previous year, the business earned $0.66 EPS. NIKE’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, research analysts expect that NIKE, Inc. will post 3.1 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.84%. NIKE’s dividend payout ratio is presently 39.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. BMO Capital Markets reduced their price objective on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Truist Financial decreased their target price on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 price target on shares of NIKE in a report on Friday, August 23rd. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.59.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’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 transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

NIKE Profile

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.