NIKE, Inc. (NYSE:NKE) Shares Acquired by Fortitude Family Office LLC

Fortitude Family Office LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 6.1% during the 4th quarter, HoldingsChannel reports. The fund owned 2,988 shares of the footwear maker’s stock after acquiring an additional 171 shares during the quarter. Fortitude Family Office LLC’s holdings in NIKE were worth $226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC raised its position in shares of NIKE by 132.8% during the 2nd quarter. Quest Partners LLC now owns 8,273 shares of the footwear maker’s stock valued at $624,000 after buying an additional 4,720 shares during the period. PFG Investments LLC lifted its stake in shares of NIKE by 5.4% in the 2nd quarter. PFG Investments LLC now owns 8,908 shares of the footwear maker’s stock valued at $671,000 after purchasing an additional 453 shares during the last quarter. Linscomb Wealth Inc. grew its holdings in shares of NIKE by 20.4% during the 2nd quarter. Linscomb Wealth Inc. now owns 3,410 shares of the footwear maker’s stock worth $257,000 after purchasing an additional 577 shares during the period. Qsemble Capital Management LP acquired a new stake in shares of NIKE during the 2nd quarter worth about $4,262,000. Finally, Barings LLC purchased a new stake in NIKE in the 2nd quarter valued at about $459,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NKE. Stifel Nicolaus lowered their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Truist Financial lowered their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Morgan Stanley cut their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada lowered their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average target price of $89.58.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by insiders.

NIKE Price Performance

Shares of NYSE NKE opened at $71.31 on Friday. The stock’s 50-day simple moving average is $76.43 and its 200-day simple moving average is $78.65. The firm has a market capitalization of $106.92 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter last year, the company earned $1.03 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, equities research analysts forecast that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.24%. NIKE’s payout ratio is 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.