Alhambra Investment Management LLC Raises Stake in NIKE, Inc. (NYSE:NKE)

Alhambra Investment Management LLC grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 63.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,852 shares of the footwear maker’s stock after buying an additional 1,882 shares during the period. Alhambra Investment Management LLC’s holdings in NIKE were worth $367,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its stake in NIKE by 10.0% in the 2nd quarter. Brighton Jones LLC now owns 223,044 shares of the footwear maker’s stock worth $16,811,000 after acquiring an additional 20,353 shares during the last quarter. GM Advisory Group LLC raised its position in shares of NIKE by 3.2% during the 2nd quarter. GM Advisory Group LLC now owns 8,638 shares of the footwear maker’s stock valued at $651,000 after buying an additional 267 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of NIKE by 28.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 97,112 shares of the footwear maker’s stock worth $7,319,000 after acquiring an additional 21,259 shares during the last quarter. AR Asset Management Inc. grew its position in NIKE by 0.5% in the second quarter. AR Asset Management Inc. now owns 78,770 shares of the footwear maker’s stock worth $5,937,000 after acquiring an additional 400 shares in the last quarter. Finally, Bridges Investment Management Inc. increased its stake in NIKE by 283.8% in the second quarter. Bridges Investment Management Inc. now owns 137,859 shares of the footwear maker’s stock valued at $10,390,000 after acquiring an additional 101,937 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NKE shares. TD Cowen decreased their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and cut their price target for the company from $93.00 to $80.00 in a research report on Friday, December 20th. Wells Fargo & Company lowered their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

NIKE Stock Down 0.3 %

Shares of NIKE stock opened at $70.89 on Friday. The company has a 50-day simple moving average of $75.87 and a two-hundred day simple moving average of $77.96. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. 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 market capitalization of $104.85 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data 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. The business had revenue of $12.35 billion for 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 firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. On average, analysts anticipate that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.26%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 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.