Blackston Financial Advisory Group LLC Raises Stock Position in NIKE, Inc. (NYSE:NKE)

Blackston Financial Advisory Group LLC grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 11.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,497 shares of the footwear maker’s stock after purchasing an additional 365 shares during the period. Blackston Financial Advisory Group LLC’s holdings in NIKE were worth $265,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Teachers Insurance & Annuity Association of America acquired a new position in shares of NIKE during the third quarter worth about $30,000. Caitlin John LLC grew its position in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of NIKE during the fourth quarter worth about $28,000. Roxbury Financial LLC acquired a new position in shares of NIKE during the fourth quarter worth about $30,000. Finally, Dunhill Financial LLC grew its position in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Price Performance

NIKE stock opened at $76.50 on Friday. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $106.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business has a 50 day simple moving average of $74.31 and a 200-day simple moving average of $78.09. The stock has a market capitalization of $113.15 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 earnings per share. Equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction 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 position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley lowered their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. TD Cowen lowered their price target on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Truist Financial lowered their price target on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Finally, Robert W. Baird lowered their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.62.

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.