Daymark Wealth Partners LLC Boosts Stake in NIKE, Inc. (NYSE:NKE)

Daymark Wealth Partners LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,855 shares of the footwear maker’s stock after buying an additional 929 shares during the quarter. Daymark Wealth Partners LLC’s holdings in NIKE were worth $8,388,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its stake in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after purchasing an additional 1,343,093 shares during the period. Geode Capital Management LLC boosted its position in NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after buying an additional 251,411 shares during the last quarter. Legal & General Group Plc raised its position in NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in NIKE by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after acquiring an additional 583,207 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

NIKE Price Performance

NIKE stock opened at $73.22 on Wednesday. The company has a fifty day simple moving average of $75.59 and a 200-day simple moving average of $77.91. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $108.30 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.25 and a beta of 1.02. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates 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 earned $1.03 earnings per share. On average, equities analysts anticipate that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed 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. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NKE shares. Needham & Company LLC reissued a “buy” rating and set a $84.00 target price on shares of NIKE in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Robert W. Baird lowered their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Royal Bank of Canada reduced 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, DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Fourteen 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

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.