Delta Financial Group Inc. Makes New $567,000 Investment in NIKE, Inc. (NYSE:NKE)

Delta Financial Group Inc. bought a new position in shares of NIKE, Inc. (NYSE:NKE) in the 4th quarter, HoldingsChannel reports. The fund bought 7,491 shares of the footwear maker’s stock, valued at approximately $567,000.

Other hedge funds also recently bought and sold shares of the company. Range Financial Group LLC acquired a new stake in shares of NIKE during the fourth quarter worth about $642,000. Cacti Asset Management LLC acquired a new stake in shares of NIKE during the fourth quarter worth about $9,987,000. Capricorn Fund Managers Ltd acquired a new stake in shares of NIKE during the fourth quarter worth about $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its position in shares of NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC lifted its position in shares of NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 0.9 %

Shares of NKE stock opened at $76.50 on Friday. The firm has a 50-day moving average price of $74.31 and a 200 day moving average price of $78.13. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $106.62. The company has a market capitalization of $113.15 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.52 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

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 firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.09%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The stock was 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 $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade 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 owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NKE. Truist Financial reduced their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. TD Cowen reduced their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Robert W. Baird reduced their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $80.00 target price on shares of NIKE in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 target price on shares of NIKE in a report on Friday, February 7th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $88.62.

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.