Thoroughbred Financial Services LLC Raises Stock Position in NIKE, Inc. (NYSE:NKE)

Thoroughbred Financial Services LLC grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 20.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,372 shares of the footwear maker’s stock after buying an additional 564 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in NIKE were worth $255,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Insigneo Advisory Services LLC boosted its holdings in shares of NIKE by 14.8% in the 3rd quarter. Insigneo Advisory Services LLC now owns 10,442 shares of the footwear maker’s stock worth $923,000 after purchasing an additional 1,345 shares during the period. XTX Topco Ltd purchased a new position in NIKE during the third quarter worth $418,000. Tenere Capital LLC increased its position in NIKE by 103.9% during the third quarter. Tenere Capital LLC now owns 241,723 shares of the footwear maker’s stock valued at $21,368,000 after acquiring an additional 123,156 shares during the last quarter. Dunhill Financial LLC raised its stake in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after acquiring an additional 169 shares during the period. Finally, Northeast Financial Consultants Inc lifted its holdings in shares of NIKE by 75.9% in the 3rd quarter. Northeast Financial Consultants Inc now owns 13,906 shares of the footwear maker’s stock worth $1,229,000 after acquiring an additional 6,000 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

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 transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on NKE. Truist Financial reduced their price objective on shares of NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Telsey Advisory Group reissued a “market perform” rating and set a $80.00 price target on shares of NIKE in a research note on Monday, March 17th. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and lowered their target price for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Finally, China Renaissance assumed coverage on shares of NIKE in a report on Wednesday, March 19th. They set a “hold” rating for the company. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Trading Up 2.9 %

Shares of NIKE stock opened at $57.17 on Monday. NIKE, Inc. has a 12-month low of $52.50 and a 12-month high of $98.04. The firm’s 50 day simple moving average is $72.96 and its two-hundred day simple moving average is $76.27. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $84.57 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s dividend payout ratio is presently 53.16%.

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.