Minot DeBlois Advisors LLC Buys Shares of 560 NIKE, Inc. (NYSE:NKE)

Minot DeBlois Advisors LLC purchased a new stake in NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 560 shares of the footwear maker’s stock, valued at approximately $42,000.

Other hedge funds also recently made changes to their positions in the company. Capricorn Fund Managers Ltd acquired a new position in NIKE during the 4th quarter worth $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its holdings in NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares during the period. FNY Investment Advisers LLC grew its position in NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after buying an additional 8,504 shares in the last quarter. Renaissance Technologies LLC increased its stake in NIKE by 1,302.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after buying an additional 2,416,601 shares during the period. Finally, Mirador Capital Partners LP raised its position in shares of NIKE by 69.8% during the 4th quarter. Mirador Capital Partners LP now owns 72,986 shares of the footwear maker’s stock worth $5,523,000 after buying an additional 30,011 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 0.4%

Shares of NIKE stock opened at $62.35 on Wednesday. The firm has a market cap of $92.22 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 2.52 and a beta of 1.23. The stock has a 50-day simple moving average of $61.91 and a 200-day simple moving average of $71.02. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

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

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. NIKE’s dividend payout ratio is currently 53.16%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NKE. Royal Bank of Canada lowered their price objective on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a research note on Friday, March 21st. Piper Sandler lowered their price target on NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Berenberg Bank started coverage on NIKE in a report on Tuesday, April 15th. They issued a “hold” rating and a $58.00 price objective for the company. The Goldman Sachs Group lowered their target price on NIKE from $88.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, BMO Capital Markets dropped their price target on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.11.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were 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 in the company, valued at approximately $65,301,708.56. This trade represents a 15.92% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently 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.