Money Concepts Capital Corp Raises Position in NIKE, Inc. (NYSE:NKE)

Money Concepts Capital Corp boosted its position in NIKE, Inc. (NYSE:NKE) by 49.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,340 shares of the footwear maker’s stock after purchasing an additional 5,068 shares during the period. Money Concepts Capital Corp’s holdings in NIKE were worth $1,161,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NKE. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the 4th quarter valued at $28,000. 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 stake in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Dunhill Financial LLC lifted its holdings in 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 purchasing an additional 169 shares during the last quarter. Finally, Riverview Trust Co bought a new position in NIKE during the third quarter worth about $52,000. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NYSE NKE opened at $74.60 on Thursday. The stock’s 50-day moving average is $75.53 and its 200 day moving average is $78.12. The stock has a market cap of $110.34 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. 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 results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.14%. NIKE’s payout ratio is currently 49.38%.

Analyst Ratings Changes

NKE has been the topic of several research reports. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Stifel Nicolaus lowered their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company cut their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Morgan Stanley dropped their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. reduced their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average price target of $89.77.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were purchased 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 owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company 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.