Cassaday & Co Wealth Management LLC Acquires 242 Shares of NIKE, Inc. (NYSE:NKE)

Cassaday & Co Wealth Management LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,939 shares of the footwear maker’s stock after buying an additional 242 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in NIKE were worth $449,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $28,000. Caitlin John LLC boosted its position in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new position in NIKE in the 3rd quarter valued at $30,000. Roxbury Financial LLC acquired a new stake in shares of NIKE in the 4th quarter valued at $30,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of NIKE during the fourth quarter worth $43,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 0.9 %

Shares of NIKE stock opened at $76.50 on Friday. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $106.62. 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 business’s 50 day simple moving average is $74.31 and its 200 day simple moving average is $78.09. The firm has a market cap of $113.15 billion, a PE ratio of 23.61, a P/E/G ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the company earned $1.03 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. NIKE’s dividend payout ratio is 49.38%.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of research reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Guggenheim reiterated a “buy” rating and set a $110.00 target price on shares of NIKE in a research report on Wednesday, February 12th. Finally, Stifel Nicolaus reduced their price target on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

Insider Activity

In other news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, 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 disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

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.