NIKE, Inc. (NYSE:NKE) Stake Boosted by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH raised its position in shares of NIKE, Inc. (NYSE:NKE) by 9.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 358,997 shares of the footwear maker’s stock after buying an additional 31,111 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in NIKE were worth $27,165,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Range Financial Group LLC acquired a new position in NIKE in the 4th quarter worth approximately $642,000. Cacti Asset Management LLC purchased a new stake in shares of NIKE in the fourth quarter valued at $9,987,000. Capricorn Fund Managers Ltd acquired a new stake in shares of NIKE in the fourth quarter worth $5,384,000. FNY Investment Advisers LLC grew its holdings in shares of NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after buying an additional 8,504 shares in the last quarter. Finally, Eagle Rock Investment Company LLC raised its position in NIKE by 49.2% during the fourth quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock valued at $4,589,000 after buying an additional 19,991 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research reports. Barclays decreased their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price objective on shares of NIKE in a research report on Friday, December 20th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Bank of America lowered their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, 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 report on Monday, December 23rd. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Stock Up 1.2 %

Shares of NKE stock opened at $74.07 on Thursday. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market cap of $109.56 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. The stock has a 50 day moving average of $75.59 and a 200-day moving average of $77.91.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the firm earned $1.03 EPS. The business’s revenue was down 7.7% on a year-over-year basis. On average, equities analysts predict that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.16%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s payout ratio is currently 49.38%.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

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.