DLK Investment Management LLC Increases Position in NIKE, Inc. (NYSE:NKE)

DLK Investment Management LLC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 5.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,365 shares of the footwear maker’s stock after purchasing an additional 2,806 shares during the period. NIKE comprises 1.7% of DLK Investment Management LLC’s portfolio, making the stock its 28th largest position. DLK Investment Management LLC’s holdings in NIKE were worth $4,452,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Annapolis Financial Services LLC increased its stake in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the last quarter. Pineridge Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter valued at about $38,000. Transcendent Capital Group LLC lifted its position in shares of NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares in the last quarter. Finally, Scarborough Advisors LLC bought a new stake in NIKE in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Down 0.5 %

NIKE stock traded down $0.43 during mid-day trading on Friday, hitting $81.67. The stock had a trading volume of 4,289,785 shares, compared to its average volume of 11,727,381. The stock has a market capitalization of $122.45 billion, a PE ratio of 23.42, a P/E/G ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock has a 50-day simple moving average of $81.49 and a two-hundred day simple moving average of $85.77.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the previous year, the company earned $0.94 EPS. NIKE’s revenue was down 10.4% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.81%. NIKE’s dividend payout ratio is presently 42.41%.

Analyst Upgrades and Downgrades

A number of research firms have commented on NKE. UBS Group increased their target price on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their target price for the company from $83.00 to $97.00 in a research note on Thursday. Telsey Advisory Group reduced their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

NIKE Company 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.