NIKE, Inc. (NYSE:NKE) Position Increased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,380 shares of the footwear maker’s stock after buying an additional 400 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in NIKE were worth $634,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. grew its holdings in NIKE by 36.2% in the 3rd quarter. Eagle Asset Management Inc. now owns 16,698 shares of the footwear maker’s stock worth $1,476,000 after buying an additional 4,440 shares in the last quarter. Meridian Wealth Management LLC bought a new position in shares of NIKE in the third quarter worth $261,000. Great Valley Advisor Group Inc. increased its holdings in shares of NIKE by 4.9% during the third quarter. Great Valley Advisor Group Inc. now owns 11,409 shares of the footwear maker’s stock valued at $1,009,000 after purchasing an additional 532 shares during the period. Swedbank AB raised its stake in shares of NIKE by 1.2% during the third quarter. Swedbank AB now owns 980,660 shares of the footwear maker’s stock valued at $86,690,000 after purchasing an additional 11,877 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in NIKE by 121.7% in the third quarter. Larson Financial Group LLC now owns 11,377 shares of the footwear maker’s stock worth $1,006,000 after purchasing an additional 6,246 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NKE. Morgan Stanley dropped their price target on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday. Evercore ISI dropped their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and upped their target price for the stock from $75.00 to $115.00 in a research report on Monday, February 24th. Truist Financial lowered their price target on NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Friday. Finally, China Renaissance assumed coverage on NIKE in a research note on Wednesday, March 19th. They set a “hold” rating for the company. Fifteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $87.38.

NIKE Trading Down 0.7 %

Shares of NYSE NKE opened at $67.45 on Tuesday. The firm has a market capitalization of $99.76 billion, a PE ratio of 20.82, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a one year low of $65.17 and a one year high of $98.04. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $74.61 and a two-hundred day moving average price of $77.31.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The firm’s revenue was down 9.1% on a year-over-year basis. As a group, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

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 is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.37%. NIKE’s dividend payout ratio is 53.16%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This 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.

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.