Bank of Nova Scotia Trust Co. Has $3.79 Million Stake in NIKE, Inc. (NYSE:NKE)

Bank of Nova Scotia Trust Co. lifted its stake in NIKE, Inc. (NYSE:NKE) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,103 shares of the footwear maker’s stock after acquiring an additional 1,693 shares during the period. Bank of Nova Scotia Trust Co.’s holdings in NIKE were worth $3,791,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Caitlin John LLC increased its position in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Heck Capital Advisors LLC bought a new stake in NIKE during the fourth quarter worth about $28,000. Roxbury Financial LLC acquired a new stake in NIKE during the 4th quarter valued at $30,000. LFA Lugano Financial Advisors SA raised its holdings in shares of NIKE by 110.5% in the fourth 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 during the last quarter. Finally, Hopwood Financial Services Inc. acquired a new position in shares of NIKE during the fourth quarter worth approximately $30,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan bought 8,600 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This represents a 36.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’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 in the company, valued at approximately $65,301,708.56. This trade represents 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 currently owned by company insiders.

Wall Street Analyst Weigh In

NKE has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Piper Sandler decreased their price target on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Robert W. Baird lowered their target price on NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Guggenheim reissued a “buy” rating and issued a $110.00 price target on shares of NIKE in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada reduced their price objective on NIKE from $67.00 to $66.00 and set a “sector perform” rating for the company in a research report on Friday, March 21st. Sixteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.15.

NIKE Price Performance

NYSE:NKE opened at $55.73 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04. The stock’s 50 day moving average price is $68.39 and its two-hundred day moving average price is $73.85. The firm has a market capitalization of $82.44 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. On average, analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.87%. The ex-dividend date was Monday, March 3rd. NIKE’s payout ratio is 53.16%.

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.