Tocqueville Asset Management L.P. Has $19.79 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Tocqueville Asset Management L.P. raised its position in shares of NIKE, Inc. (NYSE:NKE) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,576 shares of the footwear maker’s stock after purchasing an additional 2,301 shares during the period. Tocqueville Asset Management L.P.’s holdings in NIKE were worth $19,793,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Terra Alpha Investments LLC bought a new position in NIKE in the fourth quarter valued at about $1,849,000. Provident Co of the Employees of the Hebrew University LTD boosted its stake in shares of NIKE by 159.3% in the 4th quarter. Provident Co of the Employees of the Hebrew University LTD now owns 33,358 shares of the footwear maker’s stock valued at $2,526,000 after purchasing an additional 20,495 shares in the last quarter. Cibc World Markets Corp grew its holdings in shares of NIKE by 7.2% during the 4th quarter. Cibc World Markets Corp now owns 330,606 shares of the footwear maker’s stock valued at $25,017,000 after purchasing an additional 22,338 shares during the last quarter. Arbor Capital Management Inc. ADV increased its position in NIKE by 2.3% during the 4th quarter. Arbor Capital Management Inc. ADV now owns 15,275 shares of the footwear maker’s stock worth $1,169,000 after purchasing an additional 348 shares in the last quarter. Finally, IMG Wealth Management Inc. bought a new position in NIKE in the 4th quarter valued at approximately $46,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

Shares of NKE stock opened at $73.78 on Tuesday. The firm has a 50 day moving average of $74.71 and a 200-day moving average of $77.71. The company has a market cap of $109.13 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. 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, Inc. has a 52 week low of $68.62 and a 52 week high of $101.92.

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

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of a number of research reports. Barclays decreased their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $80.00 target price on shares of NIKE in a report on Monday. Truist Financial cut their price target on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company reduced their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Finally, Morgan Stanley dropped their price objective on shares of NIKE from $74.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $89.54.

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.