AssuredPartners Investment Advisors LLC Acquires New Position in NIKE, Inc. (NYSE:NKE)

AssuredPartners Investment Advisors LLC bought a new position in NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,424 shares of the footwear maker’s stock, valued at approximately $259,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter worth $28,000. Caitlin John LLC increased its position in 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 purchasing an additional 200 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of NIKE during the 4th quarter worth about $30,000. LFA Lugano Financial Advisors SA lifted its holdings in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after buying an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. bought a new stake in shares of NIKE in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 3.8 %

NKE stock opened at $63.32 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a market cap of $93.65 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 1-year low of $63.14 and a 1-year high of $98.04. The business’s 50 day moving average is $74.16 and its 200-day moving average is $76.94.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Analysts Set New Price Targets

NKE has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Robert W. Baird reduced their price objective on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Barclays reduced their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Finally, Morgan Stanley lowered their price objective on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Fifteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.38.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

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.