Avanza Fonder AB purchased a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 119,182 shares of the footwear maker's stock, valued at approximately $9,019,000.
Several other large investors also recently made changes to their positions in NKE. Range Financial Group LLC bought a new stake in NIKE during the fourth quarter worth approximately $642,000. Cacti Asset Management LLC bought a new stake in shares of NIKE during the 4th quarter worth $9,987,000. FNY Investment Advisers LLC grew its holdings in shares of NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker's stock worth $654,000 after acquiring an additional 8,504 shares during the last quarter. Mirador Capital Partners LP raised its position in shares of NIKE by 69.8% during the fourth quarter. Mirador Capital Partners LP now owns 72,986 shares of the footwear maker's stock worth $5,523,000 after purchasing an additional 30,011 shares during the period. Finally, ING Groep NV purchased a new stake in shares of NIKE during the third quarter valued at $29,628,000. Institutional investors own 64.25% of the company's stock.
Insider Activity at NIKE
In related news, Director John W. Rogers, Jr. bought 2,500 shares of the business's stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.
NIKE Stock Performance
NIKE stock traded down $0.22 during trading hours on Friday, reaching $70.89. 9,688,434 shares of the company were exchanged, compared to its average volume of 12,916,068. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The firm has a market cap of $104.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.26 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average of $75.87 and a 200 day moving average of $77.96.
NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE's revenue was down 7.7% compared to the same quarter last year. During the same period last year, the business posted $1.03 EPS. As a group, research analysts anticipate that NIKE, Inc. will post 2.1 earnings per share for the current year.
NIKE Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Monday, December 2nd. This is a boost from NIKE's previous quarterly dividend of $0.37. NIKE's payout ratio is currently 49.38%.
Analysts Set New Price Targets
Several analysts have issued reports on the company. Piper Sandler upgraded NIKE from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $72.00 to $90.00 in a report on Friday, January 10th. UBS Group restated a "neutral" rating and issued a $73.00 price target on shares of NIKE in a research report on Thursday, December 26th. Royal Bank of Canada lowered their price objective on shares of NIKE from $82.00 to $80.00 and set a "sector perform" rating on the stock in a research report on Thursday, November 7th. Stifel Nicolaus reduced their target price on NIKE from $79.00 to $75.00 and set a "hold" rating for the company in a report on Friday, December 20th. Finally, Robert W. Baird lowered their price target on NIKE from $110.00 to $105.00 and set an "outperform" rating on the stock in a report on Monday, December 23rd. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.96.
View Our Latest Analysis on NIKE
About NIKE
(
Free Report)
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.
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