Jamison Private Wealth Management Inc. Boosts Stake in NIKE, Inc. (NYSE:NKE)

Jamison Private Wealth Management Inc. increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,475 shares of the footwear maker’s stock after buying an additional 404 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in NIKE were worth $641,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Public Sector Pension Investment Board increased its holdings in shares of NIKE by 71.5% in the second quarter. Public Sector Pension Investment Board now owns 46,500 shares of the footwear maker’s stock valued at $3,505,000 after purchasing an additional 19,390 shares during the period. Dark Forest Capital Management LP acquired a new position in NIKE in the 2nd quarter worth approximately $333,000. MBB Public Markets I LLC raised its position in NIKE by 2,986.8% during the 2nd quarter. MBB Public Markets I LLC now owns 84,640 shares of the footwear maker’s stock worth $6,379,000 after buying an additional 81,898 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in NIKE by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 841,006 shares of the footwear maker’s stock valued at $63,409,000 after acquiring an additional 4,347 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group increased its stake in shares of NIKE by 5.4% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 2,726 shares of the footwear maker’s stock worth $205,000 after acquiring an additional 139 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

NKE stock opened at $73.60 on Friday. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a market capitalization of $108.86 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02. The business has a 50 day simple moving average of $75.45 and a 200-day simple moving average of $77.86.

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

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. NIKE’s payout ratio is 49.38%.

Analyst Ratings Changes

Several equities research analysts have commented on NKE shares. Jefferies Financial Group upped their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Truist Financial dropped 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. UBS Group reissued a “neutral” rating and issued a $73.00 price target on shares of NIKE in a report on Thursday, December 26th. TD Cowen dropped their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Finally, Telsey Advisory Group cut shares of NIKE from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.96.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were bought at an average price 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 of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.

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.