Global Strategic Investment Solutions LLC Raises Stock Holdings in NIKE, Inc. (NYSE:NKE)

Global Strategic Investment Solutions LLC increased its position in NIKE, Inc. (NYSE:NKE) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,802 shares of the footwear maker’s stock after buying an additional 206 shares during the quarter. Global Strategic Investment Solutions LLC’s holdings in NIKE were worth $288,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Schechter Investment Advisors LLC increased its position in NIKE by 111.3% during the 4th quarter. Schechter Investment Advisors LLC now owns 5,769 shares of the footwear maker’s stock valued at $437,000 after purchasing an additional 3,039 shares during the period. Auxano Advisors LLC increased its position in NIKE by 5.3% during the 4th quarter. Auxano Advisors LLC now owns 14,585 shares of the footwear maker’s stock valued at $1,104,000 after purchasing an additional 733 shares during the period. Grandfield & Dodd LLC increased its position in NIKE by 24.7% during the 4th quarter. Grandfield & Dodd LLC now owns 86,711 shares of the footwear maker’s stock valued at $6,561,000 after purchasing an additional 17,168 shares during the period. Gruss & Co. LLC purchased a new position in NIKE during the 4th quarter valued at $1,892,000. Finally, DJE Kapital AG purchased a new position in NIKE during the 4th quarter valued at $69,033,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Royal Bank of Canada reduced 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. Wells Fargo & Company dropped their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Truist Financial dropped their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Evercore ISI dropped their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Morgan Stanley dropped their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

Insider Activity

In other news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value 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. The trade was a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $78.29 on Tuesday. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $102.49. The firm has a market capitalization of $115.80 billion, a P/E ratio of 24.16, a PEG ratio of 2.52 and a beta of 1.01. 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 company has a 50-day moving average price of $74.67 and a 200-day moving average price of $78.29.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating 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 firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is currently 49.38%.

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.