Stonegate Investment Group LLC Has $50.75 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Stonegate Investment Group LLC increased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 18.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 670,616 shares of the footwear maker's stock after purchasing an additional 104,786 shares during the period. Stonegate Investment Group LLC's holdings in NIKE were worth $50,746,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE during the 3rd quarter valued at about $30,000. VitalStone Financial LLC raised its position in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker's stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Dunhill Financial LLC lifted its stake in NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker's stock valued at $44,000 after acquiring an additional 169 shares during the last quarter. Ecofi Investissements SA bought a new stake in NIKE in the second quarter worth approximately $49,000. Finally, Riverview Trust Co acquired a new position in shares of NIKE during the 3rd quarter worth $52,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the firm's stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company's stock, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company's stock.

NIKE Price Performance

Shares of NKE stock traded down $1.20 during trading hours on Tuesday, reaching $74.38. 8,685,826 shares of the company were exchanged, compared to its average volume of 12,262,621. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market cap of $110.02 billion, a price-to-earnings ratio of 22.96, a P/E/G ratio of 2.36 and a beta of 1.02. The stock's fifty day moving average is $75.47 and its two-hundred day moving average is $77.95. NIKE, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 36.99% and a net margin of 9.98%. The business's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 EPS. Sell-side analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This is a boost from NIKE's previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. NIKE's dividend payout ratio (DPR) is presently 49.38%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NKE shares. Telsey Advisory Group cut shares of NIKE from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $93.00 to $80.00 in a report on Friday, December 20th. TD Cowen decreased their price target on NIKE from $78.00 to $73.00 and set a "hold" rating for the company in a research note on Monday, November 18th. Needham & Company LLC reissued a "buy" rating and set a $84.00 price objective on shares of NIKE in a report on Friday, December 20th. Piper Sandler upgraded NIKE from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Finally, Stifel Nicolaus lowered their price target on NIKE from $79.00 to $75.00 and set a "hold" rating on the stock in a report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.96.

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.