Excalibur Management Corp Increases Position in NIKE, Inc. (NYSE:NKE)

Excalibur Management Corp increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,784 shares of the footwear maker’s stock after buying an additional 486 shares during the period. Excalibur Management Corp’s holdings in NIKE were worth $665,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after buying an additional 6,709,985 shares during the period. Bank of New York Mellon Corp grew its stake in shares of NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of NIKE by 358.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after acquiring an additional 2,357,745 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of NIKE during the 4th quarter worth $156,438,000. Finally, State Street Corp lifted its holdings in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were 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 owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

NIKE Price Performance

Shares of NYSE NKE opened at $66.64 on Wednesday. The company has a 50 day simple moving average of $74.52 and a two-hundred day simple moving average of $77.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a market capitalization of $98.57 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $65.17 and a fifty-two week high of $98.04.

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

NIKE Dividend Announcement

The business also recently disclosed 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 of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.40%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Analyst Ratings Changes

Several brokerages have weighed in on NKE. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Needham & Company LLC lowered their price objective on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 price target on shares of NIKE in a research report on Monday, March 17th. Finally, Royal Bank of Canada cut their target price on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a report on Friday, March 21st. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

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.