NEOS Investment Management LLC Raises Stock Position in NIKE, Inc. (NYSE:NKE)

NEOS Investment Management LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 31.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,809 shares of the footwear maker's stock after buying an additional 17,421 shares during the period. NEOS Investment Management LLC's holdings in NIKE were worth $5,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in NKE. Heck Capital Advisors LLC purchased a new stake in NIKE in the fourth quarter valued at $28,000. Caitlin John LLC raised its holdings in 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 buying an additional 200 shares during the period. Teachers Insurance & Annuity Association of America acquired a new position in NIKE in the third quarter valued at about $30,000. Roxbury Financial LLC purchased a new position in NIKE during the fourth quarter worth about $30,000. Finally, LFA Lugano Financial Advisors SA increased its position in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Dbs Bank raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Barclays lowered their price target on NIKE from $79.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, December 20th. BMO Capital Markets cut their price objective on NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $92.00 to $82.00 and set a "buy" rating for the company in a report on Monday, December 16th. Finally, Truist Financial cut their price target on shares of NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $87.38.

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NIKE Stock Performance

NIKE stock traded down $2.48 during mid-day trading on Friday, reaching $63.32. 19,564,094 shares of the company were exchanged, compared to its average volume of 12,930,854. The firm has a market cap of $93.65 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm's 50-day simple moving average is $74.16 and its two-hundred day simple moving average is $76.93. NIKE, Inc. has a twelve month low of $63.14 and a twelve month high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company's revenue for the quarter was down 9.1% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. Equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. NIKE's dividend payout ratio (DPR) is 53.16%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by 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.