Evernest Financial Advisors LLC Buys 2,618 Shares of NIKE, Inc. (NYSE:NKE)

Evernest Financial Advisors LLC increased its position in NIKE, Inc. (NYSE:NKE) by 65.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,622 shares of the footwear maker’s stock after buying an additional 2,618 shares during the period. Evernest Financial Advisors LLC’s holdings in NIKE were worth $501,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Range Financial Group LLC bought a new stake in shares of NIKE during the fourth quarter worth about $642,000. Cacti Asset Management LLC bought a new stake in NIKE during the 4th quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in shares of NIKE in the fourth quarter worth approximately $5,384,000. FNY Investment Advisers LLC lifted its holdings in shares of 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 purchasing an additional 8,504 shares in the last quarter. Finally, Eagle Rock Investment Company LLC boosted its position in shares of NIKE by 49.2% during the fourth quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock valued at $4,589,000 after buying an additional 19,991 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of analyst reports. Royal Bank of Canada lowered their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and increased their target price for the company from $72.00 to $90.00 in a report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and set a $84.00 price target on shares of NIKE in a report on Friday, December 20th. UBS Group reiterated a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research note on Thursday, December 26th. Finally, Evercore ISI cut their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Stock Performance

NYSE:NKE opened at $78.28 on Friday. The business’s fifty day moving average is $75.55 and its 200 day moving average is $77.95. The firm has a market cap of $115.79 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 2.44 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The company’s revenue was down 7.7% on a year-over-year basis. Research analysts predict that NIKE, Inc. will post 2.09 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.04%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

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.