Confluence Investment Management LLC Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

Confluence Investment Management LLC grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 246,080 shares of the footwear maker’s stock after purchasing an additional 14,592 shares during the quarter. Confluence Investment Management LLC’s holdings in NIKE were worth $18,621,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Denver PWM LLC lifted its position in NIKE by 9.7% during the third quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker’s stock worth $228,000 after buying an additional 227 shares during the period. Tidal Investments LLC lifted its holdings in shares of NIKE by 65.4% during the 3rd quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock worth $9,332,000 after acquiring an additional 41,752 shares during the period. Soltis Investment Advisors LLC boosted its position in shares of NIKE by 12.2% in the third quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock worth $3,183,000 after acquiring an additional 3,918 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in NIKE by 8.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 265,449 shares of the footwear maker’s stock valued at $23,466,000 after purchasing an additional 20,043 shares during the period. Finally, Toronto Dominion Bank increased its position in NIKE by 59.9% during the third quarter. Toronto Dominion Bank now owns 1,055,597 shares of the footwear maker’s stock worth $93,315,000 after purchasing an additional 395,434 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NKE shares. Guggenheim lowered their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Royal Bank of Canada dropped their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Piper Sandler reiterated a “neutral” rating and set a $80.00 target price on shares of NIKE in a report on Friday, September 20th. Finally, Evercore ISI cut their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $89.58.

NIKE Stock Performance

Shares of NKE traded down $0.93 during mid-day trading on Thursday, hitting $74.74. The stock had a trading volume of 2,339,865 shares, compared to its average volume of 11,637,070. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $107.48. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a market cap of $112.06 billion, a PE ratio of 21.42, a PEG ratio of 1.89 and a beta of 1.02. The company’s fifty day simple moving average is $77.13 and its two-hundred day simple moving average is $79.50.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 earnings per share. On average, equities analysts expect that NIKE, Inc. will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 49.38%.

NIKE 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.