NIKE, Inc. (NYSE:NKE) Shares Purchased by Canoe Financial LP

Canoe Financial LP boosted its stake in NIKE, Inc. (NYSE:NKE) by 1.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 111,720 shares of the footwear maker’s stock after acquiring an additional 1,200 shares during the period. Canoe Financial LP’s holdings in NIKE were worth $8,454,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Garrison Point Advisors LLC boosted its stake in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after acquiring an additional 126 shares during the last quarter. Stephens Consulting LLC lifted its holdings in NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after purchasing an additional 128 shares in the last quarter. PSI Advisors LLC boosted its stake in shares of NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares during the last quarter. Chapin Davis Inc. grew its holdings in shares of NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after buying an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC raised its position in shares of NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after buying an additional 133 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on NKE. Barclays decreased their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Truist Financial lowered their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Morgan Stanley dropped their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $93.00 to $80.00 in a research note on Friday, December 20th. Finally, Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.96.

NIKE Stock Down 0.3 %

NYSE NKE opened at $70.89 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43. The business has a 50 day moving average price of $75.87 and a two-hundred day moving average price of $77.96. The stock has a market cap of $104.85 billion, a PE ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is presently 49.38%.

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.