Blackhawk Capital Partners LLC. Acquires Shares of 11,710 NIKE, Inc. (NYSE:NKE)

Blackhawk Capital Partners LLC. bought a new position in shares of NIKE, Inc. (NYSE:NKE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 11,710 shares of the footwear maker’s stock, valued at approximately $886,000.

A number of other institutional investors have also made changes to their positions in the business. Range Financial Group LLC bought a new position in NIKE during the fourth quarter worth $642,000. Cacti Asset Management LLC acquired a new position in NIKE in the 4th quarter valued at about $9,987,000. Capricorn Fund Managers Ltd acquired a new position in NIKE in the 4th quarter valued at about $5,384,000. Klein Pavlis & Peasley Financial Inc. raised its holdings in NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after acquiring an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC lifted its position in NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after acquiring an additional 8,504 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NKE. Barclays decreased their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. BMO Capital Markets increased their price objective on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average price target of $89.77.

NIKE Stock Performance

Shares of NIKE stock opened at $80.32 on Tuesday. The company’s 50 day moving average price is $74.37 and its two-hundred day moving average price is $78.21. The firm has a market capitalization of $118.80 billion, a P/E ratio of 24.79, a P/E/G ratio of 2.52 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $106.10.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping 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 previous year, the company posted $1.03 EPS. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is currently 49.38%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

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.