NIKE, Inc. (NYSE:NKE) Stake Boosted by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 188.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 111,706 shares of the footwear maker's stock after purchasing an additional 73,005 shares during the quarter. NIKE comprises about 1.1% of Abacus FCF Advisors LLC's holdings, making the stock its 23rd biggest holding. Abacus FCF Advisors LLC's holdings in NIKE were worth $8,453,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Caitlin John LLC increased its position in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in shares of NIKE in the 4th quarter valued at about $28,000. Roxbury Financial LLC acquired a new stake in shares of NIKE during the 4th quarter worth about $30,000. LFA Lugano Financial Advisors SA lifted its position in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after buying an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. acquired a new position in shares of NIKE in the 4th quarter valued at $30,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NKE. Barclays reduced their price target on shares of NIKE from $79.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, December 20th. Robert W. Baird decreased their target price on NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Piper Sandler cut their price target on NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a research report on Friday. Royal Bank of Canada lowered their price objective on shares of NIKE from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research report on Friday, March 21st. Finally, Evercore ISI decreased their target price on shares of NIKE from $105.00 to $97.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $86.19.

NIKE Trading Up 0.1 %

Shares of NYSE:NKE traded up $0.04 during midday trading on Friday, reaching $54.44. The company's stock had a trading volume of 22,585,735 shares, compared to its average volume of 14,024,007. The firm has a market cap of $80.52 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. The business has a 50 day moving average price of $70.03 and a 200 day moving average price of $74.93. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the prior year, the company posted $0.98 EPS. The company's quarterly revenue was down 9.1% compared to the same quarter last year. Research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.94%. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Insider Activity

In related news, Director Robert Holmes Swan bought 8,600 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% 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.