Proficio Capital Partners LLC Raises Stock Position in NIKE, Inc. (NYSE:NKE)

Proficio Capital Partners LLC boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 1,029.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 229,739 shares of the footwear maker’s stock after acquiring an additional 209,404 shares during the period. Proficio Capital Partners LLC’s holdings in NIKE were worth $17,384,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. JNBA Financial Advisors increased its holdings in shares of NIKE by 1.3% in the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after acquiring an additional 131 shares during the last quarter. Frisch Financial Group Inc. boosted its holdings in NIKE by 4.7% in the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after purchasing an additional 136 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after purchasing an additional 136 shares in the last quarter. GAMMA Investing LLC raised its holdings in NIKE by 1.0% during the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock worth $1,136,000 after purchasing an additional 150 shares in the last quarter. Finally, Game Plan Financial Advisors LLC lifted its position in shares of NIKE by 11.1% during the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock worth $114,000 after buying an additional 150 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 0.7 %

NIKE stock opened at $79.43 on Friday. The stock’s 50 day moving average price is $74.64 and its 200 day moving average price is $78.32. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $105.57. The company has a market cap of $117.49 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. 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 issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given 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 yield of 2.01%. NIKE’s payout ratio is currently 49.38%.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on 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 completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at $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 corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NKE shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Bank of America dropped their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. decreased their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. 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. Finally, Robert W. Baird cut their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.77.

About NIKE

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.