Inkwell Capital LLC Purchases Shares of 34,202 NIKE, Inc. (NYSE:NKE)

Inkwell Capital LLC bought a new stake in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 34,202 shares of the footwear maker’s stock, valued at approximately $2,588,000. NIKE accounts for approximately 2.8% of Inkwell Capital LLC’s investment portfolio, making the stock its 18th biggest position.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new stake in NIKE during the fourth quarter valued at $1,126,288,000. Pacer Advisors Inc. boosted its stake in shares of NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after purchasing an additional 6,709,985 shares during the period. Bank of New York Mellon Corp grew its stake in NIKE by 18.1% in 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 acquiring an additional 3,121,929 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of NIKE by 358.6% in 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 buying an additional 2,357,745 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in NIKE in the fourth quarter worth about $156,438,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. China Renaissance began coverage on shares of NIKE in a research report on Wednesday, March 19th. They set a “hold” rating for the company. Guggenheim restated a “buy” rating and issued a $110.00 price objective on shares of NIKE in a research note on Wednesday, February 12th. Bank of America cut their price target on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Evercore ISI lowered their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Stock Performance

Shares of NYSE:NKE opened at $63.32 on Friday. 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 firm has a market cap of $93.65 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a twelve month low of $63.14 and a twelve month high of $98.04. The business has a fifty day moving average of $74.16 and a 200-day moving average of $76.93.

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

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.53%. NIKE’s dividend payout ratio is currently 53.16%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

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.