Bryn Mawr Capital Management LLC Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

Bryn Mawr Capital Management LLC boosted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 207.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 140,780 shares of the footwear maker's stock after acquiring an additional 95,020 shares during the quarter. Bryn Mawr Capital Management LLC's holdings in NIKE were worth $10,653,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Pacer Advisors Inc. lifted its position in NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock worth $516,166,000 after acquiring an additional 6,709,985 shares during the period. Loomis Sayles & Co. L P raised its stake in shares of NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker's stock valued at $575,342,000 after buying an additional 6,507,856 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of NIKE by 358.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker's stock valued at $228,165,000 after buying an additional 2,357,745 shares during the last quarter. State Street Corp raised its stake in shares of NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock valued at $5,140,796,000 after buying an additional 1,862,021 shares during the last quarter. Finally, Holocene Advisors LP purchased a new position in shares of NIKE during the 3rd quarter valued at about $148,635,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on NKE shares. Robert W. Baird reduced their price objective on NIKE from $110.00 to $105.00 and set an "outperform" rating for the company in a research note on Monday, December 23rd. Piper Sandler upgraded NIKE from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Citigroup lowered NIKE from a "buy" rating to a "neutral" rating and cut their price target for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Morgan Stanley cut their price target on NIKE from $80.00 to $74.00 and set an "equal weight" rating for the company in a research note on Friday, December 20th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $80.00 price target on shares of NIKE in a research note on Wednesday. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.62.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the company's stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company's stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company's stock.

NIKE Trading Down 1.2 %

NYSE:NKE traded down $0.97 during trading hours on Friday, reaching $76.27. 7,955,016 shares of the stock were exchanged, compared to its average volume of 13,068,186. The company has a market capitalization of $112.81 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 2.50 and a beta of 1.01. 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, Inc. has a twelve month low of $68.62 and a twelve month high of $106.62. The business has a 50-day moving average of $74.33 and a two-hundred day moving average of $78.05.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analysts' expectations of $12.11 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 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.03 earnings per share. On average, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE's payout ratio is currently 49.38%.

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.