Grandfield & Dodd LLC Has $2.74 Million Holdings in NIKE, Inc. (NYSE:NKE)

Grandfield & Dodd LLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 598.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 29,178 shares of the footwear maker’s stock after purchasing an additional 25,001 shares during the quarter. Grandfield & Dodd LLC’s holdings in NIKE were worth $2,742,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Annapolis Financial Services LLC increased its holdings in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares during the period. Iron Horse Wealth Management LLC increased its holdings in shares of NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. acquired a new position in shares of NIKE in the 4th quarter valued at about $29,000. True Wealth Design LLC increased its holdings in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of NIKE in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE traded up $0.84 during mid-day trading on Thursday, hitting $73.38. The company’s stock had a trading volume of 15,843,352 shares, compared to its average volume of 11,168,768. NIKE, Inc. has a one year low of $71.67 and a one year high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The firm has a market capitalization of $110.76 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01. The stock’s 50-day moving average is $89.89 and its two-hundred day moving average is $96.31.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $12.86 billion. During the same period in the prior year, the business earned $0.66 earnings per share. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE, Inc. will post 3.17 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a $0.37 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 2.02%. NIKE’s dividend payout ratio is 39.68%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Truist Financial dropped their target price on NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Oppenheimer reiterated an “outperform” rating and issued a $120.00 target price on shares of NIKE in a report on Friday, June 28th. Sanford C. Bernstein dropped their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. BMO Capital Markets dropped their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Finally, Bank of America dropped their price objective on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $97.19.

Insider Activity

In related news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is owned by company insiders.

NIKE Company 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.