Ballentine Partners LLC Has $1.83 Million Stake in NIKE, Inc. (NYSE:NKE)

Ballentine Partners LLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 24,207 shares of the footwear maker’s stock after purchasing an additional 569 shares during the quarter. Ballentine Partners LLC’s holdings in NIKE were worth $1,832,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Teachers Insurance & Annuity Association of America acquired a new position in NIKE during the third quarter worth $30,000. VitalStone Financial LLC raised its stake in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Dunhill Financial LLC raised its stake in NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares in the last quarter. Riverview Trust Co acquired a new position in NIKE during the third quarter worth $52,000. Finally, Catalyst Capital Advisors LLC acquired a new position in NIKE during the third quarter worth $54,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Up 3.4 %

Shares of NIKE stock opened at $73.22 on Wednesday. The business’s 50 day simple moving average is $75.66 and its 200 day simple moving average is $77.92. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. The firm has a market cap of $108.30 billion, a PE ratio of 22.60, a P/E/G ratio of 2.25 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.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. On average, analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NKE shares. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price objective on shares of NIKE in a research note on Friday, December 20th. Jefferies Financial Group increased their target price on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Truist Financial decreased their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company decreased their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Finally, Morgan Stanley decreased their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average target price of $89.96.

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.