NIKE, Inc. (NYSE:NKE) Stock Holdings Lifted by Trek Financial LLC

Trek Financial LLC raised its position in shares of NIKE, Inc. (NYSE:NKE) by 60.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,274 shares of the footwear maker’s stock after purchasing an additional 4,638 shares during the period. Trek Financial LLC’s holdings in NIKE were worth $929,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in NKE. Norges Bank bought a new position in NIKE during the fourth quarter valued at approximately $1,126,288,000. Wellington Management Group LLP raised its holdings in shares of NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after purchasing an additional 6,709,985 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in NIKE by 358.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after buying an additional 2,357,745 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on NKE shares. Morgan Stanley reduced their price target on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Bank of America decreased their target price on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the company from $72.00 to $90.00 in a report on Friday, January 10th. Jefferies Financial Group upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $75.00 to $115.00 in a research note on Monday, February 24th. Finally, UBS Group lowered their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.38.

NIKE Stock Performance

Shares of NYSE:NKE opened at $57.17 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business’s fifty day moving average price is $72.96 and its two-hundred day moving average price is $76.27. NIKE, Inc. has a fifty-two week low of $52.50 and a fifty-two week high of $98.04. The stock has a market capitalization of $84.57 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. As a group, analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s payout ratio is currently 53.16%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction 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 transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.