Essex Savings Bank grew its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 53.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,707 shares of the footwear maker's stock after acquiring an additional 3,752 shares during the quarter. Essex Savings Bank's holdings in NIKE were worth $810,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of NKE. Presilium Private Wealth LLC raised its holdings in shares of NIKE by 3.6% in the fourth quarter. Presilium Private Wealth LLC now owns 8,700 shares of the footwear maker's stock worth $658,000 after buying an additional 300 shares during the last quarter. S.E.E.D. Planning Group LLC acquired a new position in shares of NIKE in the 4th quarter valued at $497,000. Laurel Wealth Advisors LLC raised its stake in NIKE by 7.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 34,115 shares of the footwear maker's stock worth $2,581,000 after acquiring an additional 2,459 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in NIKE by 35.4% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17,648 shares of the footwear maker's stock worth $1,335,000 after acquiring an additional 4,614 shares during the period. Finally, Park Avenue Securities LLC grew its stake in NIKE by 38.1% during the 4th quarter. Park Avenue Securities LLC now owns 14,899 shares of the footwear maker's stock valued at $1,127,000 after purchasing an additional 4,107 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.
NKE opened at $71.04 on Thursday. The business has a fifty day moving average price of $76.05 and a 200 day moving average price of $78.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 12 month low of $70.53 and a 12 month high of $107.43. The stock has a market capitalization of $105.08 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 2.26 and a beta of 1.02.
NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the company posted $1.03 earnings per share. The business's revenue for the quarter was down 7.7% on a year-over-year basis. Sell-side analysts expect that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. This is a positive change 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%.
In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business's stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company's stock.
A number of equities research analysts recently commented on NKE shares. Morgan Stanley decreased their target price on NIKE from $80.00 to $74.00 and set an "equal weight" rating for the company in a report on Friday, December 20th. 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. JPMorgan Chase & Co. lowered their price target 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. Royal Bank of Canada reduced their price target on NIKE from $82.00 to $80.00 and set a "sector perform" rating for the company in a research report on Thursday, November 7th. Finally, Stifel Nicolaus decreased their target price on shares of NIKE from $79.00 to $75.00 and set a "hold" rating for the company in a research note on Friday, December 20th. Fourteen equities research 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $89.96.
Get Our Latest Report on 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.
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