NIKE, Inc. (NYSE:NKE) Stock Position Raised by Busey Bank

Busey Bank boosted its holdings in NIKE, Inc. (NYSE:NKE) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 216,054 shares of the footwear maker’s stock after acquiring an additional 1,660 shares during the period. Busey Bank’s holdings in NIKE were worth $16,349,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Teachers Insurance & Annuity Association of America bought a new stake in NIKE in the 3rd quarter valued at about $30,000. VitalStone Financial LLC raised its holdings in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Dunhill Financial LLC raised its holdings in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares during the last quarter. Riverview Trust Co acquired a new position in shares of NIKE during the third quarter worth approximately $52,000. Finally, Catalyst Capital Advisors LLC bought a new position in NIKE in the 3rd quarter worth approximately $54,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Up 3.0 %

NKE opened at $76.65 on Thursday. The company has a market capitalization of $113.38 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02. 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, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43. The business has a 50-day moving average of $75.48 and a 200-day moving average of $77.96.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate 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 net margin of 9.98% and a return on equity of 36.99%. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. Equities research analysts forecast that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. NIKE’s dividend payout ratio is currently 49.38%.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Morgan Stanley reduced their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Guggenheim reduced their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada lowered their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Fourteen investment 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. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $89.96.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE 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.