Interchange Capital Partners LLC Increases Stake in NIKE, Inc. (NYSE:NKE)

Interchange Capital Partners LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,656 shares of the footwear maker’s stock after buying an additional 310 shares during the period. Interchange Capital Partners LLC’s holdings in NIKE were worth $277,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter valued at approximately $28,000. Caitlin John LLC increased its holdings in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in NIKE in the third quarter valued at $30,000. Roxbury Financial LLC acquired a new stake in NIKE in the fourth quarter valued at $30,000. Finally, LFA Lugano Financial Advisors SA lifted its holdings in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $67.45 on Tuesday. The company has a market capitalization of $99.76 billion, a PE ratio of 20.82, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 52-week low of $65.17 and a 52-week high of $98.04. The company has a 50-day simple moving average of $74.61 and a 200-day simple moving average of $77.31. 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 (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period last year, the firm earned $0.98 EPS. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. Equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared 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 2.37%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is currently 53.16%.

Insider Transactions at NIKE

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 shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE 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 acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of several research analyst reports. Evercore ISI cut their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Truist Financial cut their price objective on shares of NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Friday. Guggenheim restated a “buy” rating and issued a $110.00 target price on shares of NIKE in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft cut their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Finally, Royal Bank of Canada decreased their price objective on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating for the company in a research note on Friday. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

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.