Glenview Trust co Buys 74,310 Shares of NIKE, Inc. (NYSE:NKE)

Glenview Trust co grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 300.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 99,050 shares of the footwear maker’s stock after buying an additional 74,310 shares during the quarter. Glenview Trust co’s holdings in NIKE were worth $7,495,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. JNBA Financial Advisors grew its position in NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock worth $760,000 after acquiring an additional 131 shares during the last quarter. Frisch Financial Group Inc. boosted its stake in shares of NIKE by 4.7% during the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after purchasing an additional 136 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in shares of NIKE by 0.7% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock worth $1,547,000 after purchasing an additional 136 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of NIKE by 1.0% in the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock valued at $1,136,000 after buying an additional 150 shares during the period. Finally, Game Plan Financial Advisors LLC raised its holdings in NIKE by 11.1% in the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock valued at $114,000 after buying an additional 150 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on 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 represents a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of 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 disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NYSE NKE opened at $71.72 on Friday. The company has a market cap of $106.08 billion, a P/E ratio of 22.14, a PEG ratio of 2.52 and a beta of 1.02. The company has a fifty day simple moving average of $74.68 and a 200 day simple moving average of $77.81. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $101.92.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS 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 company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NKE shares. Morgan Stanley reduced their target price on shares of NIKE from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $72.00 to $90.00 in a report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 target price on shares of NIKE in a report on Friday, February 7th. Robert W. Baird reduced their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Finally, Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $115.00 in a research report on Monday, February 24th. Fourteen 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.69.

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.