DMC Group LLC Acquires New Position in NIKE, Inc. (NYSE:NKE)

DMC Group LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,058 shares of the footwear maker’s stock, valued at approximately $231,000.

Other hedge funds also recently made changes to their positions in the company. Gries Financial LLC bought a new position in NIKE during the fourth quarter worth $1,619,000. Milestone Asset Management LLC raised its holdings in shares of NIKE by 55.3% during the fourth quarter. Milestone Asset Management LLC now owns 110,488 shares of the footwear maker’s stock worth $8,361,000 after purchasing an additional 39,324 shares during the period. Hanson & Doremus Investment Management boosted its holdings in shares of NIKE by 47.4% in the 4th quarter. Hanson & Doremus Investment Management now owns 746 shares of the footwear maker’s stock valued at $56,000 after buying an additional 240 shares during the period. Allen Capital Group LLC grew its position in shares of NIKE by 8.3% during the 4th quarter. Allen Capital Group LLC now owns 32,146 shares of the footwear maker’s stock valued at $2,433,000 after buying an additional 2,469 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC raised its stake in NIKE by 52.3% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 141,594 shares of the footwear maker’s stock worth $10,031,000 after acquiring an additional 48,631 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NKE. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 target price on shares of NIKE in a report on Friday, December 20th. JPMorgan Chase & Co. dropped their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Evercore ISI reduced their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Truist Financial dropped their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Royal Bank of Canada reduced their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction 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 purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $76.65 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The company has a market cap of $113.38 billion, a PE ratio of 23.66, a PEG ratio of 2.36 and a beta of 1.02. The stock’s 50-day moving average price is $75.48 and its two-hundred day moving average price is $77.96.

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

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. NIKE’s payout ratio is currently 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.