Los Angeles Capital Management LLC Raises Stake in NIKE, Inc. (NYSE:NKE)

Los Angeles Capital Management LLC lifted its position in NIKE, Inc. (NYSE:NKE) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,494 shares of the footwear maker’s stock after purchasing an additional 513 shares during the period. Los Angeles Capital Management LLC’s holdings in NIKE were worth $7,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. Range Financial Group LLC bought a new stake in NIKE during the fourth quarter valued at about $642,000. Cacti Asset Management LLC bought a new stake in NIKE during the 4th quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd purchased a new position in NIKE in the 4th quarter worth approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its stake in NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC grew its holdings in NIKE by 5,745.9% during the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after buying an additional 8,504 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

Shares of NKE stock opened at $81.17 on Thursday. The stock has a 50 day moving average price of $74.54 and a 200 day moving average price of $78.28. The firm has a market capitalization of $120.06 billion, a P/E ratio of 25.05, a P/E/G ratio of 2.52 and a beta of 1.01. 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 52-week low of $68.62 and a 52-week high of $105.57.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 annualized dividend and a dividend yield of 1.97%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. BMO Capital Markets boosted their target price on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and set a $84.00 price objective on shares of NIKE in a report on Friday, February 7th. Truist Financial reduced their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Evercore ISI dropped their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Fourteen investment 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. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value 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 $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

NIKE Company 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.