NIKE, Inc. (NYSE:NKE) Holdings Lifted by Confluence Investment Management LLC

Confluence Investment Management LLC raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 6.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,080 shares of the footwear maker’s stock after acquiring an additional 14,592 shares during the period. Confluence Investment Management LLC’s holdings in NIKE were worth $18,621,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NKE. Verus Capital Partners LLC boosted its holdings in shares of NIKE by 24.6% in the second quarter. Verus Capital Partners LLC now owns 4,155 shares of the footwear maker’s stock valued at $313,000 after acquiring an additional 820 shares in the last quarter. Legacy Capital Wealth Partners LLC bought a new position in NIKE during the 2nd quarter valued at $330,000. Absher Wealth Management LLC increased its position in shares of NIKE by 15.0% during the 2nd quarter. Absher Wealth Management LLC now owns 312,132 shares of the footwear maker’s stock valued at $23,525,000 after purchasing an additional 40,803 shares during the period. Aveo Capital Partners LLC raised its stake in shares of NIKE by 118.1% in the 2nd quarter. Aveo Capital Partners LLC now owns 14,669 shares of the footwear maker’s stock worth $1,106,000 after buying an additional 7,943 shares in the last quarter. Finally, Thomas Story & Son LLC lifted its holdings in shares of NIKE by 0.7% in the second quarter. Thomas Story & Son LLC now owns 31,855 shares of the footwear maker’s stock valued at $2,401,000 after buying an additional 225 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research analyst reports. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Piper Sandler reissued a “neutral” rating and set a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $93.00 to $80.00 in a research report on Friday, December 20th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price objective on shares of NIKE in a research report on Friday, December 20th. Finally, Bank of America decreased their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.58.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

NIKE Stock Down 1.2 %

NKE traded down $0.93 during trading on Thursday, reaching $74.74. 2,339,865 shares of the stock traded hands, compared to its average volume of 11,637,070. The stock’s 50-day simple moving average is $77.13 and its two-hundred day simple moving average is $79.50. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $107.48. The stock has a market cap of $112.06 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the company earned $1.03 EPS. The firm’s revenue was down 7.7% on a year-over-year basis. As a group, equities research analysts expect that NIKE, Inc. will post 2.72 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. NIKE’s dividend payout ratio is 49.38%.

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.