NIKE, Inc. (NYSE:NKE) Stock Holdings Increased by Grove Bank & Trust

Grove Bank & Trust lifted its holdings in NIKE, Inc. (NYSE:NKE) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,310 shares of the footwear maker’s stock after purchasing an additional 163 shares during the quarter. Grove Bank & Trust’s holdings in NIKE were worth $326,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NKE. Garrison Point Advisors LLC lifted its stake in NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after buying an additional 126 shares in the last quarter. Stephens Consulting LLC lifted its position in NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after acquiring an additional 128 shares in the last quarter. PSI Advisors LLC boosted its stake in NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares during the period. Chapin Davis Inc. increased its holdings in NIKE by 1.2% during the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after purchasing an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC raised its stake in shares of NIKE by 1.6% in the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after purchasing an additional 133 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NKE has been the subject of a number of research reports. Stifel Nicolaus decreased their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. TD Cowen lowered their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Jefferies Financial Group increased their target price on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. JPMorgan Chase & Co. lowered their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Finally, Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Stock Performance

NYSE:NKE opened at $70.89 on Monday. The stock has a 50 day simple moving average of $75.77 and a 200 day simple moving average of $77.94. The stock has a market cap of $104.85 billion, a P/E ratio of 21.88, a PEG ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its earnings results 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 return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The company’s revenue was down 7.7% on a year-over-year basis. Research analysts anticipate that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The firm 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. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 49.38%.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The shares were bought 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 in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

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.