Everence Capital Management Inc. Has $1.87 Million Position in NIKE, Inc. (NYSE:NKE)

Everence Capital Management Inc. lifted its holdings in NIKE, Inc. (NYSE:NKE) by 128.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,680 shares of the footwear maker’s stock after purchasing an additional 13,860 shares during the period. Everence Capital Management Inc.’s holdings in NIKE were worth $1,868,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in NKE. Modus Advisors LLC bought a new position in NIKE in the 4th quarter worth approximately $85,000. GAMMA Investing LLC grew its stake in shares of NIKE by 1.0% in the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock worth $1,136,000 after acquiring an additional 150 shares during the last quarter. Cacti Asset Management LLC bought a new position in NIKE during the fourth quarter worth $9,987,000. Confluence Investment Management LLC raised its stake in NIKE by 6.3% during the 4th quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker’s stock valued at $18,621,000 after purchasing an additional 14,592 shares during the last quarter. Finally, Denver PWM LLC boosted its holdings in NIKE by 9.7% in the 3rd quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker’s stock valued at $228,000 after purchasing an additional 227 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE stock opened at $73.31 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $109.92 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.89 and a beta of 1.02. The firm’s 50 day moving average is $77.02 and its 200-day moving average is $79.46. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $107.43.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company earned $1.03 EPS. Sell-side analysts forecast that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, 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 the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NKE shares. Truist Financial cut their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Bank of America reduced their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. JPMorgan Chase & Co. lowered their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Sanford C. Bernstein reduced their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Finally, Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $93.00 to $80.00 in a report on Friday, December 20th. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.58.

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.