Geneos Wealth Management Inc. Boosts Stake in NIKE, Inc. (NYSE:NKE)

Geneos Wealth Management Inc. increased its position in shares of NIKE, Inc. (NYSE:NKE) by 10.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,748 shares of the footwear maker’s stock after buying an additional 4,210 shares during the quarter. Geneos Wealth Management Inc.’s holdings in NIKE were worth $3,386,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its stake in NIKE by 71.5% in the second quarter. Public Sector Pension Investment Board now owns 46,500 shares of the footwear maker’s stock valued at $3,505,000 after purchasing an additional 19,390 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of NIKE during the second quarter worth about $333,000. MBB Public Markets I LLC increased its position in NIKE by 2,986.8% in the 2nd quarter. MBB Public Markets I LLC now owns 84,640 shares of the footwear maker’s stock valued at $6,379,000 after acquiring an additional 81,898 shares during the period. The Manufacturers Life Insurance Company lifted its position in NIKE by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 841,006 shares of the footwear maker’s stock worth $63,409,000 after acquiring an additional 4,347 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group grew its stake in shares of NIKE by 5.4% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 2,726 shares of the footwear maker’s stock valued at $205,000 after purchasing an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Truist Financial cut their price target on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Guggenheim cut their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. UBS Group reaffirmed a “neutral” rating and issued a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Morgan Stanley cut their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Finally, Wells Fargo & Company lowered their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Price Performance

Shares of NYSE NKE opened at $73.60 on Friday. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The firm has a market capitalization of $108.86 billion, a PE ratio of 22.72, a P/E/G ratio of 2.36 and a beta of 1.02. 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 $75.45 and its two-hundred day moving average price is $77.86.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. On average, research analysts expect that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. 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.