Presilium Private Wealth LLC Raises Stake in NIKE, Inc. (NYSE:NKE)

Presilium Private Wealth LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 3.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,700 shares of the footwear maker’s stock after buying an additional 300 shares during the period. Presilium Private Wealth LLC’s holdings in NIKE were worth $658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Range Financial Group LLC purchased a new stake in NIKE in the fourth quarter valued at approximately $642,000. Cacti Asset Management LLC purchased a new stake in shares of NIKE during the fourth quarter worth approximately $9,987,000. FNY Investment Advisers LLC raised its holdings in NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after acquiring an additional 8,504 shares in the last quarter. ING Groep NV purchased a new position in NIKE in the third quarter worth approximately $29,628,000. Finally, Confluence Investment Management LLC increased its position in shares of NIKE by 6.3% in the 4th quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker’s stock valued at $18,621,000 after purchasing an additional 14,592 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NKE shares. Truist Financial lowered their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. TD Cowen dropped their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Sanford C. Bernstein decreased their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Robert W. Baird reduced their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Finally, Jefferies Financial Group lifted their target price on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

NIKE Trading Up 1.4 %

NYSE:NKE opened at $72.16 on Wednesday. NIKE, Inc. has a 1 year low of $70.53 and a 1 year high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a fifty day moving average price of $76.05 and a two-hundred day moving average price of $78.06. The stock has a market capitalization of $106.73 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.89 and a beta of 1.02.

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 business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 49.38%.

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.