Hillsdale Investment Management Inc. Buys 400 Shares of NIKE, Inc. (NYSE:NKE)

Hillsdale Investment Management Inc. lifted its stake in NIKE, Inc. (NYSE:NKE) by 5.0% during the fourth quarter, Holdings Channel reports. The fund owned 8,380 shares of the footwear maker’s stock after acquiring an additional 400 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in NIKE were worth $634,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. lifted its position in NIKE by 36.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 16,698 shares of the footwear maker’s stock worth $1,476,000 after acquiring an additional 4,440 shares during the last quarter. Meridian Wealth Management LLC bought a new position in shares of NIKE in the third quarter worth about $261,000. Great Valley Advisor Group Inc. lifted its position in shares of NIKE by 4.9% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 11,409 shares of the footwear maker’s stock worth $1,009,000 after purchasing an additional 532 shares during the last quarter. Swedbank AB lifted its position in shares of NIKE by 1.2% during the 3rd quarter. Swedbank AB now owns 980,660 shares of the footwear maker’s stock worth $86,690,000 after purchasing an additional 11,877 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in NIKE by 121.7% in the 3rd quarter. Larson Financial Group LLC now owns 11,377 shares of the footwear maker’s stock valued at $1,006,000 after buying an additional 6,246 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NKE. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and cut their price target for the stock from $102.00 to $72.00 in a report on Friday, February 7th. China Renaissance assumed coverage on shares of NIKE in a research note on Wednesday, March 19th. They set a “hold” rating for the company. UBS Group dropped their price objective on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday. Jefferies Financial Group upgraded shares of NIKE from a “hold” rating to a “buy” rating and increased their target price for the company from $75.00 to $115.00 in a research note on Monday, February 24th. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Fifteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.38.

Insider Activity

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction 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 completion of the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE 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 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 ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

NIKE Stock Down 0.7 %

Shares of NYSE:NKE opened at $67.45 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock has a market cap of $99.76 billion, a price-to-earnings ratio of 20.82, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a 50 day moving average of $74.61 and a 200-day moving average of $77.31. NIKE, Inc. has a one year low of $65.17 and a one year high of $98.04.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced 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. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.37%. NIKE’s payout ratio is currently 53.16%.

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.