Atomi Financial Group Inc. Increases Stake in NIKE, Inc. (NYSE:NKE)

Atomi Financial Group Inc. lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 74.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 19,565 shares of the footwear maker’s stock after buying an additional 8,322 shares during the quarter. Atomi Financial Group Inc.’s holdings in NIKE were worth $1,481,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in NKE. LifePlan Financial LLC increased its holdings in shares of NIKE by 35.6% in the fourth quarter. LifePlan Financial LLC now owns 10,073 shares of the footwear maker’s stock worth $762,000 after buying an additional 2,642 shares during the period. Capricorn Fund Managers Ltd bought a new position in NIKE during the 4th quarter worth approximately $5,384,000. Solidarity Wealth LLC grew its position in NIKE by 2.1% during the 4th quarter. Solidarity Wealth LLC now owns 73,159 shares of the footwear maker’s stock worth $5,566,000 after acquiring an additional 1,521 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in NIKE by 5.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 240,685 shares of the footwear maker’s stock worth $18,212,000 after purchasing an additional 12,074 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC lifted its position in NIKE by 23.5% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 16,871 shares of the footwear maker’s stock valued at $1,277,000 after purchasing an additional 3,207 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was purchased at an average price 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 of the company’s stock, 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 SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. UBS Group restated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $93.00 to $80.00 in a report on Friday, December 20th. Bank of America lowered their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Finally, Barclays reduced their price target on NIKE from $79.00 to $70.00 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Stock Performance

NIKE stock opened at $73.22 on Wednesday. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $108.30 billion, a P/E ratio of 22.60, a PEG ratio of 2.25 and a beta of 1.02. The stock’s 50 day moving average is $75.66 and its 200 day moving average is $77.92.

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

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.19%. NIKE’s payout ratio is 49.38%.

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.