Mcdonald Partners LLC Raises Stake in NIKE, Inc. (NYSE:NKE)

Mcdonald Partners LLC increased its position in NIKE, Inc. (NYSE:NKE) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,061 shares of the footwear maker’s stock after buying an additional 395 shares during the period. Mcdonald Partners LLC’s holdings in NIKE were worth $988,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the 4th quarter worth $28,000. Caitlin John LLC grew its position in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE during the 3rd quarter worth about $30,000. Roxbury Financial LLC acquired a new stake in shares of NIKE in the fourth quarter worth $30,000. Finally, Dunhill Financial LLC increased its holdings in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price objective on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Evercore ISI dropped their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the company from $72.00 to $90.00 in a report on Friday, January 10th. Bank of America dropped their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. cut their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average target price of $88.62.

NIKE Stock Down 0.3 %

NKE stock opened at $73.02 on Tuesday. 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’s 50-day simple moving average is $74.37 and its 200 day simple moving average is $78.04. The stock has a market cap of $108.00 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $107.34.

NIKE (NYSE:NKE) last released 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. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

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

Insider Activity

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was acquired 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. The trade was a 7.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate 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.