Modus Advisors LLC Makes New Investment in NIKE, Inc. (NYSE:NKE)

Modus Advisors LLC purchased a new stake in NIKE, Inc. (NYSE:NKE) during the 4th quarter, HoldingsChannel reports. The firm purchased 1,129 shares of the footwear maker’s stock, valued at approximately $85,000.

Other institutional investors have also made changes to their positions in the company. Cacti Asset Management LLC acquired a new position in NIKE during the 4th quarter valued at $9,987,000. ING Groep NV acquired a new position in shares of NIKE during the third quarter valued at about $29,628,000. Cordatus Wealth Management LLC lifted its stake in shares of NIKE by 19.5% in the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after buying an additional 6,778 shares during the period. Confluence Investment Management LLC grew its position in NIKE by 6.3% during the fourth quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker’s stock worth $18,621,000 after buying an additional 14,592 shares in the last quarter. Finally, Bristlecone Advisors LLC increased its stake in NIKE by 14.3% during the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after acquiring an additional 11,665 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NKE stock opened at $73.31 on Friday. The company has a 50 day moving average price of $77.02 and a 200 day moving average price of $79.46. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market capitalization of $109.92 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 earnings per share. Analysts forecast that NIKE, Inc. will post 2.72 EPS for the current year.

NIKE Increases Dividend

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

Wall Street Analyst Weigh In

NKE has been the subject of a number of research reports. TD Cowen reduced their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. JPMorgan Chase & Co. lowered their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Robert W. Baird reduced their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Finally, Wells Fargo & Company dropped their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $89.58.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were purchased 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 owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.