NIKE, Inc. (NYSE:NKE) Stake Boosted by Ritter Daniher Financial Advisory LLC DE

Ritter Daniher Financial Advisory LLC DE raised its position in shares of NIKE, Inc. (NYSE:NKE) by 95.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 513 shares of the footwear maker’s stock after purchasing an additional 250 shares during the quarter. Ritter Daniher Financial Advisory LLC DE’s holdings in NIKE were worth $39,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its position in NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after buying an additional 8,898,591 shares during the period. Geode Capital Management LLC increased its holdings in shares of NIKE by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock valued at $1,915,110,000 after purchasing an additional 347,178 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of NIKE by 18.1% in the 4th 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 purchasing an additional 3,121,929 shares during the period. Norges Bank acquired a new stake in shares of NIKE during the fourth quarter worth approximately $1,126,288,000. Finally, Charles Schwab Investment Management Inc. grew its position in NIKE by 7.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,205,753 shares of the footwear maker’s stock valued at $696,599,000 after purchasing an additional 603,219 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NKE. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and cut their target price for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Barclays reduced their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. China Renaissance assumed coverage on NIKE in a research report on Wednesday, March 19th. They issued a “hold” rating on the stock. Finally, Truist Financial reduced their price target on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a report on Friday, March 21st. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.38.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm’s 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NYSE NKE opened at $57.17 on Monday. NIKE, Inc. has a one year low of $52.50 and a one year high of $98.04. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $72.96 and a 200 day simple moving average of $76.27. The firm has a market capitalization of $84.57 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s payout ratio is 53.16%.

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.