RAM Investment Partners LLC Buys New Position in NIKE, Inc. (NYSE:NKE)

RAM Investment Partners LLC purchased a new stake in NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,021 shares of the footwear maker’s stock, valued at approximately $1,212,000.

Several other large investors have also bought and sold shares of the stock. Gateway Investment Advisers LLC lifted its holdings in NIKE by 2.1% during the third quarter. Gateway Investment Advisers LLC now owns 68,434 shares of the footwear maker’s stock worth $6,050,000 after acquiring an additional 1,384 shares during the period. City State Bank raised its stake in shares of NIKE by 61.0% during the 3rd quarter. City State Bank now owns 5,422 shares of the footwear maker’s stock worth $479,000 after purchasing an additional 2,055 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of NIKE by 15.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 28,141 shares of the footwear maker’s stock worth $2,488,000 after buying an additional 3,864 shares during the last quarter. Birch Hill Investment Advisors LLC grew its position in NIKE by 26.7% during the third quarter. Birch Hill Investment Advisors LLC now owns 37,551 shares of the footwear maker’s stock valued at $3,320,000 after buying an additional 7,903 shares during the period. Finally, Factory Mutual Insurance Co. increased its holdings in NIKE by 22.6% during the third quarter. Factory Mutual Insurance Co. now owns 335,400 shares of the footwear maker’s stock worth $29,649,000 after buying an additional 61,800 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

NKE stock opened at $68.69 on Monday. The firm has a 50 day simple moving average of $75.12 and a two-hundred day simple moving average of $78.04. The stock has a market cap of $101.60 billion, a PE ratio of 21.20, a P/E/G ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a one year low of $68.62 and a one 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.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping 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 company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.33%. NIKE’s dividend payout ratio is 49.38%.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of research analyst reports. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Barclays dropped their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Truist Financial decreased their target price on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. UBS Group reaffirmed a “neutral” rating and set a $73.00 price target on shares of NIKE in a research report on Thursday, December 26th. Finally, TD Cowen decreased their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Fifteen equities research 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.62.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, 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 purchase was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by 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.