NIKE, Inc. (NYSE:NKE) Shares Purchased by VELA Investment Management LLC

VELA Investment Management LLC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 156.0% during the fourth quarter, HoldingsChannel reports. The fund owned 27,356 shares of the footwear maker’s stock after buying an additional 16,672 shares during the period. VELA Investment Management LLC’s holdings in NIKE were worth $2,070,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NKE. Avitas Wealth Management LLC lifted its holdings in NIKE by 10.3% in the third quarter. Avitas Wealth Management LLC now owns 6,218 shares of the footwear maker’s stock valued at $550,000 after acquiring an additional 580 shares during the last quarter. Great Diamond Partners LLC acquired a new position in NIKE during the third quarter worth $222,000. First Trust Direct Indexing L.P. lifted its stake in NIKE by 2.9% during the third quarter. First Trust Direct Indexing L.P. now owns 32,965 shares of the footwear maker’s stock worth $2,914,000 after purchasing an additional 937 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in NIKE by 10.5% during the third quarter. Pinnacle Associates Ltd. now owns 26,403 shares of the footwear maker’s stock worth $2,334,000 after purchasing an additional 2,510 shares in the last quarter. Finally, Diversify Wealth Management LLC lifted its stake in NIKE by 5.4% during the third quarter. Diversify Wealth Management LLC now owns 16,046 shares of the footwear maker’s stock worth $1,418,000 after purchasing an additional 829 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NKE opened at $79.86 on Friday. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $105.57. The company has a market capitalization of $118.13 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. The firm has a 50-day simple moving average of $74.59 and a 200-day simple moving average of $78.29. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.00%. NIKE’s dividend payout ratio (DPR) is 49.38%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Evercore ISI decreased their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. UBS Group restated a “neutral” rating and set a $73.00 price target on shares of NIKE in a research note on Thursday, December 26th. Royal Bank of Canada decreased their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Barclays decreased their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, Robert W. Baird decreased their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $89.77.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated 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 sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, with a total value 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 trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

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.