NIKE, Inc. (NYSE:NKE) Shares Acquired by Manchester Capital Management LLC

Manchester Capital Management LLC grew its stake in NIKE, Inc. (NYSE:NKE) by 12.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,880 shares of the footwear maker’s stock after purchasing an additional 2,004 shares during the quarter. Manchester Capital Management LLC’s holdings in NIKE were worth $1,353,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. Cornerstone Wealth Management LLC bought a new position in NIKE in the 3rd quarter worth about $390,000. Good Life Advisors LLC bought a new position in NIKE in the 3rd quarter worth about $316,000. Global Retirement Partners LLC grew its position in NIKE by 12.8% in the 3rd quarter. Global Retirement Partners LLC now owns 20,159 shares of the footwear maker’s stock worth $1,782,000 after purchasing an additional 2,289 shares during the last quarter. Teamwork Financial Advisors LLC bought a new position in NIKE in the 3rd quarter worth about $1,314,000. Finally, Ellsworth Advisors LLC grew its position in NIKE by 4.1% in the 3rd quarter. Ellsworth Advisors LLC now owns 19,162 shares of the footwear maker’s stock worth $1,694,000 after purchasing an additional 759 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on NKE. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. TD Cowen decreased their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Bank of America reduced their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, UBS Group restated a “neutral” rating and set a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Stock Performance

NYSE:NKE opened at $73.02 on Friday. The company has a fifty day moving average of $74.58 and a 200-day moving average of $78.00. The firm has a market capitalization of $108.00 billion, a P/E ratio of 22.54, a P/E/G ratio of 2.34 and a beta of 1.01. 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 twelve month low of $68.62 and a twelve month high of $107.34.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

NIKE 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.