Sierra Ocean LLC Takes $195,000 Position in NIKE, Inc. (NYSE:NKE)

Sierra Ocean LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 2,578 shares of the footwear maker’s stock, valued at approximately $195,000.

Several other institutional investors have also recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter worth approximately $28,000. Caitlin John LLC grew its position in NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE during the 3rd quarter valued at $30,000. Roxbury Financial LLC bought a new position in NIKE in the 4th quarter valued at $30,000. Finally, Dunhill Financial LLC grew its holdings in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NKE has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price target on shares of NIKE in a report on Friday, February 7th. Truist Financial reduced their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Guggenheim reissued a “buy” rating and issued a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 price objective on shares of NIKE in a report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

NIKE Stock Performance

Shares of NKE opened at $73.02 on Monday. The firm’s 50 day moving average price is $74.46 and its two-hundred day moving average price is $78.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $107.34. The firm has a market cap of $108.00 billion, a P/E ratio of 22.54, a PEG ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last announced 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. The firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS. On average, analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. NIKE’s payout ratio is presently 49.38%.

About NIKE

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.