NIKE, Inc. (NYSE:NKE) Stake Lifted by D.B. Root & Company LLC

D.B. Root & Company LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,664 shares of the footwear maker’s stock after purchasing an additional 662 shares during the period. D.B. Root & Company LLC’s holdings in NIKE were worth $1,261,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its holdings in shares of NIKE by 71.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 46,500 shares of the footwear maker’s stock worth $3,505,000 after purchasing an additional 19,390 shares in the last quarter. NBW Capital LLC grew its position in NIKE by 33.8% in the second quarter. NBW Capital LLC now owns 63,614 shares of the footwear maker’s stock worth $4,795,000 after buying an additional 16,075 shares during the last quarter. EDENTREE ASSET MANAGEMENT Ltd increased its holdings in shares of NIKE by 7.6% in the second quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 132,074 shares of the footwear maker’s stock valued at $9,953,000 after buying an additional 9,350 shares in the last quarter. DoubleLine ETF Adviser LP acquired a new stake in shares of NIKE during the 2nd quarter valued at $2,454,000. Finally, Delta Investment Management LLC boosted its stake in shares of NIKE by 179.5% during the 2nd quarter. Delta Investment Management LLC now owns 8,233 shares of the footwear maker’s stock worth $621,000 after acquiring an additional 5,287 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NKE shares. Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. TD Cowen dropped their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Needham & Company LLC restated a “buy” rating and issued a $84.00 price target on shares of NIKE in a research report on Friday, December 20th. Finally, Royal Bank of Canada lowered their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Trading Up 1.2 %

Shares of NYSE:NKE opened at $74.07 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $109.56 billion, a PE ratio of 22.86, a P/E/G ratio of 2.33 and a beta of 1.02. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The firm has a fifty day moving average price of $75.54 and a 200 day moving average price of $77.88.

NIKE (NYSE:NKE) last issued 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. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. Analysts expect that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

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

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.