Range Financial Group LLC Invests $642,000 in NIKE, Inc. (NYSE:NKE)

Range Financial Group LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,484 shares of the footwear maker's stock, valued at approximately $642,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP increased its holdings in shares of NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker's stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker's stock valued at $2,204,451,000 after purchasing an additional 251,411 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker's stock valued at $832,785,000 after purchasing an additional 571,544 shares during the period. Finally, Fisher Asset Management LLC grew its position in NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker's stock worth $910,801,000 after buying an additional 583,207 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

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NIKE Stock Up 0.2 %

Shares of NKE traded up $0.15 during trading on Tuesday, reaching $72.15. The company's stock had a trading volume of 10,447,782 shares, compared to its average volume of 11,590,188. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $107.43. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a market cap of $108.18 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 1.89 and a beta of 1.02. The company has a fifty day moving average of $76.65 and a two-hundred day moving average of $78.75.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm's revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. On average, sell-side analysts predict that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.22%. This is a boost from NIKE's previous quarterly dividend of $0.37. NIKE's dividend payout ratio is presently 49.38%.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm's stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value 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. This represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Truist Financial lowered their price target on NIKE from $97.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. cut their price target on NIKE from $77.00 to $73.00 and set a "neutral" rating for the company in a research note on Monday, December 2nd. Morgan Stanley dropped their target price on shares of NIKE from $80.00 to $74.00 and set an "equal weight" rating for the company in a report on Friday, December 20th. Robert W. Baird reduced their price target on shares of NIKE from $110.00 to $105.00 and set an "outperform" rating on the stock in a report on Monday, December 23rd. Finally, DA Davidson raised NIKE to a "strong-buy" rating in a report on Monday, December 23rd. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and an average target price of $89.58.

NIKE 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.