NIKE, Inc. (NYSE:NKE) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,787 shares of the footwear maker’s stock after purchasing an additional 2,646 shares during the period. Exchange Traded Concepts LLC’s holdings in NIKE were worth $2,330,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE during the 3rd quarter valued at $30,000. VitalStone Financial LLC boosted its position in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the period. Dunhill Financial LLC grew its stake in NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after acquiring an additional 169 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of NIKE in the third quarter worth approximately $52,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of NIKE during the third quarter worth approximately $54,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NKE shares. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 target price on shares of NIKE in a research report on Friday, December 20th. DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Bank of America lowered their price target on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. UBS Group reaffirmed a “neutral” rating and set a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th. Finally, Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

NIKE Stock Down 0.9 %

NYSE NKE opened at $73.60 on Monday. 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. The stock’s 50 day moving average is $75.45 and its two-hundred day moving average is $77.90. The company has a market capitalization of $108.86 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.36 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 earnings per share. Equities analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) 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.