Ballast Inc. Has $1.31 Million Position in NIKE, Inc. (NYSE:NKE)

Ballast Inc. lifted its holdings in NIKE, Inc. (NYSE:NKE) by 22.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,255 shares of the footwear maker’s stock after buying an additional 3,159 shares during the quarter. Ballast Inc.’s holdings in NIKE were worth $1,306,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Teachers Insurance & Annuity Association of America acquired a new position in shares of NIKE in the third quarter valued at approximately $30,000. VitalStone Financial LLC lifted its position in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Dunhill Financial LLC boosted its stake in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the period. Ecofi Investissements SA bought a new position in NIKE during the 2nd quarter worth about $49,000. Finally, Riverview Trust Co acquired a new stake in shares of NIKE in the 3rd quarter valued at about $52,000. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NKE stock opened at $70.89 on Friday. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The company has a market capitalization of $104.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.26 and a beta of 1.02. The company has a 50-day simple moving average of $75.77 and a 200 day simple moving average of $77.92. 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 (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during 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 in the previous year, the company posted $1.03 earnings per share. On average, sell-side analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio is currently 49.38%.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of research reports. Truist Financial decreased their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Jefferies Financial Group boosted their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Finally, 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 report on Monday, December 16th. Fourteen 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 company’s stock. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average target price of $89.96.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, with a total value 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 trade represents a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

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.