IFP Advisors Inc Acquires 1,789 Shares of NIKE, Inc. (NYSE:NKE)

IFP Advisors Inc boosted its holdings in NIKE, Inc. (NYSE:NKE) by 17.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 11,806 shares of the footwear maker’s stock after purchasing an additional 1,789 shares during the quarter. IFP Advisors Inc’s holdings in NIKE were worth $894,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp raised its holdings in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP grew its position in NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after purchasing an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC increased its stake in NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after buying an additional 251,411 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of NIKE by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after buying an additional 583,207 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of NIKE by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock worth $760,716,000 after buying an additional 117,187 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Bank of America decreased their price target on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and decreased their target price for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.77.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were purchased 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 approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE 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 sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

NIKE Stock Down 1.6 %

NKE stock opened at $79.86 on Friday. The stock has a 50-day simple moving average of $74.59 and a two-hundred day simple moving average of $78.29. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $105.57. The firm has a market capitalization of $118.13 billion, a PE ratio of 24.65, a PEG ratio of 2.52 and a beta of 1.01. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS 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 company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. NIKE’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.00%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

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.