Northstar Group Inc. Buys 2,502 Shares of NIKE, Inc. (NYSE:NKE)

Northstar Group Inc. raised its position in shares of NIKE, Inc. (NYSE:NKE) by 14.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,573 shares of the footwear maker’s stock after acquiring an additional 2,502 shares during the quarter. Northstar Group Inc.’s holdings in NIKE were worth $1,481,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Teachers Insurance & Annuity Association of America bought a new position in NIKE in the third quarter worth $30,000. Caitlin John LLC increased its stake in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in NIKE during the 4th quarter valued at about $28,000. VitalStone Financial LLC grew its holdings in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Finally, Dunhill Financial LLC increased its stake in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In related 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 cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

NIKE Stock Down 4.3 %

NKE stock opened at $68.69 on Friday. The business’s 50-day moving average price is $75.32 and its 200-day moving average price is $78.05. The stock has a market cap of $101.60 billion, a P/E ratio of 21.20, a PEG ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $107.43. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 earnings per share. On average, equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.33%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft reduced their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $102.00 to $72.00 in a research note on Friday. Evercore ISI reduced their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Truist Financial dropped their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

NIKE Company 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.