International Assets Investment Management LLC purchased a new stake in NIKE, Inc. (NYSE:NKE) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 7,942 shares of the footwear maker’s stock, valued at approximately $702,000.
Other hedge funds have also modified their holdings of the company. Adams Wealth Management purchased a new position in NIKE in the 3rd quarter valued at approximately $28,000. Tsfg LLC boosted its position in NIKE by 583.3% in the 4th quarter. Tsfg LLC now owns 205 shares of the footwear maker’s stock valued at $29,000 after buying an additional 175 shares during the period. Sound Income Strategies LLC boosted its position in NIKE by 163.8% in the 3rd quarter. Sound Income Strategies LLC now owns 248 shares of the footwear maker’s stock valued at $31,000 after buying an additional 154 shares during the period. Newfound Research LLC purchased a new position in NIKE in the 3rd quarter valued at approximately $32,000. Finally, Planned Solutions Inc. purchased a new position in NIKE in the 3rd quarter valued at approximately $32,000. 64.20% of the stock is owned by institutional investors.
NKE has been the subject of several recent analyst reports. Barclays lifted their price objective on shares of NIKE from $150.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, December 21st. Wedbush lifted their price objective on shares of NIKE from $142.00 to $152.00 and gave the stock an “outperform” rating in a research report on Friday, December 11th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on shares of NIKE from $137.00 to $157.00 in a research report on Monday, December 21st. Piper Sandler lifted their price objective on shares of NIKE from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, December 21st. Finally, Jefferies Financial Group set a $140.00 price objective on shares of NIKE and gave the stock a “neutral” rating in a research report on Monday, January 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $154.46.
NYSE NKE opened at $139.35 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.97 and a current ratio of 2.66. The firm has a market cap of $219.68 billion, a PE ratio of 79.63, a P/E/G ratio of 2.51 and a beta of 0.83. NIKE, Inc. has a one year low of $60.00 and a one year high of $147.95. The firm’s fifty day moving average is $140.96 and its two-hundred day moving average is $122.85.
NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 17th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $11.24 billion for the quarter, compared to analyst estimates of $10.51 billion. NIKE had a net margin of 7.39% and a return on equity of 34.89%. NIKE’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 earnings per share. Research analysts predict that NIKE, Inc. will post 2.96 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 29th. Stockholders of record on Monday, December 7th were issued a $0.275 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 0.79%. NIKE’s payout ratio is presently 59.46%.
In other news, VP Chris L. Abston sold 20,000 shares of NIKE stock in a transaction dated Wednesday, December 30th. The shares were sold at an average price of $142.16, for a total value of $2,843,200.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Hilary K. Krane sold 5,670 shares of NIKE stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $123.30, for a total transaction of $699,111.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 450,170 shares of company stock worth $63,160,981. Insiders own 3.80% of the company’s stock.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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