Procyon Advisors LLC Buys 1,541 Shares of NIKE, Inc. (NYSE:NKE)

Procyon Advisors LLC grew its position in NIKE, Inc. (NYSE:NKE) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,641 shares of the footwear maker’s stock after purchasing an additional 1,541 shares during the quarter. Procyon Advisors LLC’s holdings in NIKE were worth $2,243,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Everpar Advisors LLC boosted its holdings in NIKE by 18.1% during the fourth quarter. Everpar Advisors LLC now owns 2,697 shares of the footwear maker’s stock valued at $204,000 after acquiring an additional 413 shares during the period. Tompkins Financial Corp increased its stake in shares of NIKE by 21.0% in the fourth quarter. Tompkins Financial Corp now owns 6,241 shares of the footwear maker’s stock worth $472,000 after purchasing an additional 1,084 shares during the period. Empirical Asset Management LLC lifted its position in shares of NIKE by 487.6% during the 4th quarter. Empirical Asset Management LLC now owns 17,864 shares of the footwear maker’s stock worth $1,352,000 after purchasing an additional 14,824 shares during the last quarter. Eagle Rock Investment Company LLC boosted its stake in NIKE by 49.2% during the 4th quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock valued at $4,589,000 after purchasing an additional 19,991 shares during the period. Finally, BFI Infinity Ltd. acquired a new stake in NIKE in the 4th quarter valued at approximately $255,000. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NKE. DA Davidson upgraded NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Truist Financial cut their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. JPMorgan Chase & Co. decreased their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Royal Bank of Canada cut their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Finally, Morgan Stanley reduced their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Stock Performance

NYSE:NKE opened at $70.89 on Friday. The stock has a market capitalization of $104.85 billion, a P/E ratio of 21.88, a price-to-earnings-growth 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. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The firm has a 50 day moving average of $75.87 and a 200-day moving average of $77.96.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

About NIKE

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.