Harbor Capital Advisors Inc. Buys 404 Shares of NIKE, Inc. (NYSE:NKE)

Harbor Capital Advisors Inc. grew its position in shares of NIKE, Inc. (NYSE:NKE) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,475 shares of the footwear maker’s stock after purchasing an additional 404 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in NIKE were worth $1,247,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Wealth Enhancement Advisory Services LLC boosted its position in NIKE by 0.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 206,023 shares of the footwear maker’s stock valued at $15,590,000 after acquiring an additional 1,120 shares during the last quarter. Fortitude Family Office LLC lifted its stake in shares of NIKE by 6.1% in the 4th quarter. Fortitude Family Office LLC now owns 2,988 shares of the footwear maker’s stock valued at $226,000 after purchasing an additional 171 shares during the period. Watts Gwilliam & Co. LLC bought a new stake in shares of NIKE during the 4th quarter valued at about $326,000. International Assets Investment Management LLC acquired a new stake in NIKE during the fourth quarter worth approximately $512,000. Finally, Range Financial Group LLC bought a new stake in NIKE in the fourth quarter worth approximately $642,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 0.0 %

NKE opened at $71.31 on Monday. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $107.43. The company’s 50-day moving average price is $76.29 and its two-hundred day moving average price is $78.25. The stock has a market cap of $105.48 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 1.89 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities analysts expect that NIKE, Inc. will post 2.72 earnings per share 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 is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.24%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NKE shares. JPMorgan Chase & Co. lowered their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Morgan Stanley decreased their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $72.00 to $90.00 in a research report on Friday. Bank of America decreased their target price on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Barclays cut their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.96.

Insider Activity

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

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.