Duncan Williams Asset Management LLC Makes New $247,000 Investment in NIKE, Inc. (NYSE:NKE)

Duncan Williams Asset Management LLC bought a new stake in NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,267 shares of the footwear maker’s stock, valued at approximately $247,000.

Several other hedge funds have also made changes to their positions in NKE. Public Sector Pension Investment Board lifted its position in NIKE by 71.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 46,500 shares of the footwear maker’s stock worth $3,505,000 after acquiring an additional 19,390 shares during the period. Dark Forest Capital Management LP purchased a new stake in shares of NIKE during the second quarter worth approximately $333,000. MBB Public Markets I LLC lifted its holdings in shares of NIKE by 2,986.8% during the second quarter. MBB Public Markets I LLC now owns 84,640 shares of the footwear maker’s stock worth $6,379,000 after purchasing an additional 81,898 shares during the period. The Manufacturers Life Insurance Company grew its position in NIKE by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 841,006 shares of the footwear maker’s stock valued at $63,409,000 after buying an additional 4,347 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group increased its stake in NIKE by 5.4% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 2,726 shares of the footwear maker’s stock valued at $205,000 after buying an additional 139 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on NKE shares. Truist Financial reduced their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. UBS Group reiterated a “neutral” rating and set a $73.00 target price on shares of NIKE in a research report on Thursday, December 26th. Guggenheim cut their target price on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Wells Fargo & Company decreased their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Finally, Morgan Stanley cut their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Stock Performance

Shares of NKE opened at $73.60 on Friday. The company has a market capitalization of $108.86 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.36 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The company’s 50 day simple moving average is $75.45 and its 200 day simple moving average is $77.86.

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

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. 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 2.17%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 49.38%.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated 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 acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 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.