Alpine Woods Capital Investors LLC Takes $598,000 Position in NIKE, Inc. (NYSE:NKE)

Alpine Woods Capital Investors LLC bought a new stake in NIKE, Inc. (NYSE:NKE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,900 shares of the footwear maker’s stock, valued at approximately $598,000.

Other large investors have also modified their holdings of the company. Teachers Insurance & Annuity Association of America acquired a new position in shares of NIKE in the 3rd quarter valued at $30,000. Caitlin John LLC boosted its holdings in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the 4th quarter valued at $28,000. Roxbury Financial LLC acquired a new position in shares of NIKE in the 4th quarter valued at $30,000. Finally, LFA Lugano Financial Advisors SA boosted its holdings in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after buying an additional 210 shares in the last quarter. 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. acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NKE shares. Truist Financial lowered their target price 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. Evercore ISI reduced their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Jefferies Financial Group upgraded shares of NIKE from a “hold” rating to a “buy” rating and upped their price target for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and reduced their price target for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Finally, Stifel Nicolaus reduced their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.69.

NIKE Stock Performance

Shares of NKE opened at $72.61 on Friday. The company has a 50-day simple moving average of $74.71 and a 200-day simple moving average of $77.95. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $107.40 billion, a PE ratio of 22.41, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $102.49.

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

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. NIKE’s 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.