Headlands Technologies LLC Buys 20,714 Shares of NIKE, Inc. (NYSE:NKE)

Headlands Technologies LLC increased its stake in NIKE, Inc. (NYSE:NKE) by 212.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,454 shares of the footwear maker’s stock after buying an additional 20,714 shares during the quarter. Headlands Technologies LLC’s holdings in NIKE were worth $2,304,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the 4th quarter worth about $28,000. Caitlin John LLC lifted its stake in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Roxbury Financial LLC purchased a new position in shares of NIKE during the fourth quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA grew its stake in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after buying an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. purchased a new stake in shares of NIKE in the fourth quarter worth approximately $30,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NIKE stock opened at $63.57 on Tuesday. The company has a 50 day moving average price of $74.01 and a 200 day moving average price of $76.82. The firm has a market capitalization of $94.02 billion, a P/E ratio of 19.62, a PEG 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 $62.65 and a 52 week high of $98.04.

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, topping analysts’ consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. Sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.52%. NIKE’s payout ratio is presently 53.16%.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of several research analyst reports. Evercore ISI cut their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Morgan Stanley cut their price target on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Truist Financial lowered their price objective on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, March 21st. JPMorgan Chase & Co. reduced their target price on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE presently has an average 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.