BBR Partners LLC Makes New $369,000 Investment in NIKE, Inc. (NYSE:NKE)

BBR Partners LLC purchased a new position in NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,876 shares of the footwear maker’s stock, valued at approximately $369,000.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp increased its stake in shares of NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after buying an additional 1,862,021 shares during the period. Wellington Management Group LLP increased its stake in shares of NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after buying an additional 1,343,093 shares during the period. Geode Capital Management LLC increased its stake in shares of NIKE by 1.0% during the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after buying an additional 251,411 shares during the period. Bank of New York Mellon Corp increased its stake in shares of NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after buying an additional 3,121,929 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after buying an additional 583,207 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NKE shares. Truist Financial reduced their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Royal Bank of Canada reduced 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. JPMorgan Chase & Co. reduced their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Finally, Evercore ISI reduced 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. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Trading Down 0.1 %

Shares of NYSE:NKE opened at $77.74 on Friday. The company has a market cap of $114.99 billion, a P/E ratio of 23.99, a PEG 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 1 year low of $68.62 and a 1 year high of $102.49. The stock’s fifty day moving average price is $74.72 and its 200-day moving average price is $78.25.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. Sell-side analysts expect 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 issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is currently 49.38%.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction 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 owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The shares were 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. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. Corporate 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.