Intact Investment Management Inc. Invests $9.38 Million in NIKE, Inc. (NYSE:NKE)

Intact Investment Management Inc. acquired a new position in NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 123,900 shares of the footwear maker’s stock, valued at approximately $9,376,000.

Other institutional investors have also recently made changes to their positions in the company. Range Financial Group LLC bought a new position in shares of NIKE in the fourth quarter worth about $642,000. Cacti Asset Management LLC bought a new position in shares of NIKE in the fourth quarter worth about $9,987,000. Capricorn Fund Managers Ltd bought a new position in shares of NIKE in the fourth quarter worth about $5,384,000. Klein Pavlis & Peasley Financial Inc. raised its stake in shares of NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after buying an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC raised its stake in shares of NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after buying an additional 8,504 shares during the period. Institutional investors 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 company’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

NIKE Price Performance

Shares of NIKE stock opened at $72.61 on Friday. The stock has a market cap of $107.40 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a 50 day moving average price of $74.71 and a 200-day moving average price of $77.95. NIKE, Inc. has a one year low of $68.62 and a one year high of $102.49.

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

NIKE Dividend Announcement

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 issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is currently 49.38%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and lifted their target price for the company from $75.00 to $115.00 in a research note on Monday, February 24th. Barclays decreased their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.69.

NIKE Company 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.