NIKE, Inc. (NYSE:NKE) Stock Holdings Increased by MCF Advisors LLC

MCF Advisors LLC raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 34.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,384 shares of the footwear maker’s stock after purchasing an additional 2,634 shares during the quarter. MCF Advisors LLC’s holdings in NIKE were worth $787,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NKE. Teachers Insurance & Annuity Association of America purchased a new position in shares of NIKE in the third quarter worth approximately $30,000. VitalStone Financial LLC raised its stake in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Dunhill Financial LLC lifted its holdings in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of NIKE in the third quarter worth $52,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of NIKE during the third quarter valued at $54,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NKE. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Truist Financial decreased their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Royal Bank of Canada dropped their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Robert W. Baird decreased their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Finally, DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Fourteen 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Trading Up 3.4 %

Shares of NIKE stock opened at $73.22 on Wednesday. The company has a market cap of $108.30 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.25 and a beta of 1.02. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The company’s fifty day simple moving average is $75.66 and its 200-day simple moving average is $77.92. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The business’s revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that NIKE, Inc. will post 2.1 EPS 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 given a dividend of $0.40 per share. 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 dividend yield of 2.19%. NIKE’s payout ratio is currently 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.