Allworth Financial LP Purchases 12,027 Shares of NIKE, Inc. (NYSE:NKE)

Allworth Financial LP grew its position in NIKE, Inc. (NYSE:NKE) by 96.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 24,458 shares of the footwear maker’s stock after acquiring an additional 12,027 shares during the quarter. Allworth Financial LP’s holdings in NIKE were worth $1,811,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Range Financial Group LLC purchased a new stake in NIKE during the fourth quarter valued at $642,000. Cacti Asset Management LLC bought a new stake in shares of NIKE in the 4th quarter worth about $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in shares of NIKE during the 4th quarter valued at about $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after acquiring an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC grew its position 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 worth $654,000 after acquiring an additional 8,504 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NKE. Truist Financial lowered their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 target price on shares of NIKE in a research note on Thursday, February 6th. JPMorgan Chase & Co. lowered their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Finally, Barclays cut their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.

NIKE Stock Up 6.2 %

Shares of NYSE NKE opened at $77.54 on Wednesday. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $106.62. The stock’s fifty day simple moving average is $74.37 and its two-hundred day simple moving average is $78.04. The stock has a market capitalization of $114.70 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 earnings per share. As a group, analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Monday, March 3rd. NIKE’s 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.