Tompkins Financial Corp Raises Position in NIKE, Inc. (NYSE:NKE)

Tompkins Financial Corp increased its stake in NIKE, Inc. (NYSE:NKE) by 21.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,241 shares of the footwear maker’s stock after purchasing an additional 1,084 shares during the quarter. Tompkins Financial Corp’s holdings in NIKE were worth $472,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of NKE. Mercer Global Advisors Inc. ADV increased its holdings in NIKE by 1.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 376,060 shares of the footwear maker’s stock worth $28,344,000 after acquiring an additional 4,790 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of NIKE by 7.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 103,575 shares of the footwear maker’s stock worth $7,734,000 after purchasing an additional 6,962 shares in the last quarter. Blair William & Co. IL increased its stake in shares of NIKE by 0.3% in the second quarter. Blair William & Co. IL now owns 381,012 shares of the footwear maker’s stock worth $28,717,000 after purchasing an additional 1,206 shares in the last quarter. Marathon Trading Investment Management LLC raised its position in shares of NIKE by 20.6% in the second quarter. Marathon Trading Investment Management LLC now owns 4,100 shares of the footwear maker’s stock valued at $309,000 after purchasing an additional 700 shares during the period. Finally, Brighton Jones LLC lifted its stake in shares of NIKE by 10.0% during the 2nd quarter. Brighton Jones LLC now owns 223,044 shares of the footwear maker’s stock valued at $16,811,000 after buying an additional 20,353 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. acquired 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 acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NKE shares. DA Davidson raised shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Needham & Company LLC restated a “buy” rating and issued a $84.00 target price on shares of NIKE in a research note on Friday, December 20th. Jefferies Financial Group lifted their target price on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Finally, Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.96.

NIKE Price Performance

NKE opened at $71.11 on Friday. 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 stock’s 50 day simple moving average is $75.97 and its 200 day simple moving average is $78.01. The firm has a market cap of $105.18 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43.

NIKE (NYSE:NKE) last issued its earnings results 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter last year, the business earned $1.03 earnings per share. The business’s revenue was down 7.7% on a year-over-year basis. As a group, analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio is 49.38%.

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.