Arjuna Capital Purchases 4,486 Shares of NIKE, Inc. (NYSE:NKE)

Arjuna Capital lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 154.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,394 shares of the footwear maker’s stock after buying an additional 4,486 shares during the quarter. Arjuna Capital’s holdings in NIKE were worth $560,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NKE. M&G PLC increased its holdings in shares of NIKE by 0.9% during the third quarter. M&G PLC now owns 35,768 shares of the footwear maker’s stock worth $3,148,000 after purchasing an additional 305 shares during the period. Western Pacific Wealth Management LP grew its position in NIKE by 0.3% during the third quarter. Western Pacific Wealth Management LP now owns 609,238 shares of the footwear maker’s stock worth $53,857,000 after buying an additional 2,012 shares in the last quarter. Mainstream Capital Management LLC bought a new position in NIKE during the 3rd quarter worth $749,000. Confluence Investment Management LLC raised its holdings in NIKE by 1.1% in the 3rd quarter. Confluence Investment Management LLC now owns 231,488 shares of the footwear maker’s stock valued at $20,464,000 after acquiring an additional 2,516 shares in the last quarter. Finally, Sittner & Nelson LLC lifted its position in shares of NIKE by 7.6% during the 3rd quarter. Sittner & Nelson LLC now owns 28,430 shares of the footwear maker’s stock valued at $2,513,000 after acquiring an additional 2,013 shares during the period. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of a number of recent analyst reports. Morgan Stanley decreased their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and raised their target price for the company from $75.00 to $115.00 in a report on Monday, February 24th. Barclays cut their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Truist Financial decreased their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $80.00 target price on shares of NIKE in a research note on Wednesday, February 19th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

NIKE Stock Performance

Shares of NKE stock opened at $78.68 on Friday. The business’s 50 day simple moving average is $74.76 and its 200 day simple moving average is $78.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a one year low of $68.62 and a one year high of $102.49. The stock has a market capitalization of $116.38 billion, a PE ratio of 24.28, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS 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 analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 earnings per share. As a group, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. NIKE’s dividend payout ratio is presently 49.38%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price 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 $2,636,989.95. This trade represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

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.