Deane Retirement Strategies Inc. Acquires Shares of 25,304 NIKE, Inc. (NYSE:NKE)

Deane Retirement Strategies Inc. bought a new position in NIKE, Inc. (NYSE:NKEFree Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 25,304 shares of the footwear maker’s stock, valued at approximately $1,915,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Range Financial Group LLC purchased a new position in NIKE during the fourth quarter worth approximately $642,000. Cacti Asset Management LLC purchased a new position in shares of NIKE during the 4th quarter worth $9,987,000. Capricorn Fund Managers Ltd acquired a new position in shares of NIKE during the 4th quarter valued at about $5,384,000. FNY Investment Advisers LLC grew its holdings in shares of NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares during the period. Finally, Eagle Rock Investment Company LLC increased its position in NIKE by 49.2% during the fourth quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock worth $4,589,000 after purchasing an additional 19,991 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were 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 in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NKE shares. Bank of America decreased their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Truist Financial decreased their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Telsey Advisory Group cut NIKE from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $93.00 to $80.00 in a research note on Friday, December 20th. DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.96.

Read Our Latest Analysis on NIKE

NIKE Stock Down 1.6 %

Shares of NYSE:NKE opened at $74.38 on Wednesday. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock has a market cap of $110.02 billion, a P/E ratio of 22.96, a P/E/G ratio of 2.36 and a beta of 1.02. The firm has a fifty day moving average price of $75.47 and a 200 day moving average price of $77.95.

NIKE (NYSE:NKEGet Free Report) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 earnings per share. Sell-side analysts predict that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is presently 49.38%.

About NIKE

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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