Newbridge Financial Services Group Inc. Purchases New Position in NIKE, Inc. (NYSE:NKE)

Newbridge Financial Services Group Inc. acquired a new position in NIKE, Inc. (NYSE:NKE) in the 4th quarter, Holdings Channel reports. The firm acquired 1,425 shares of the footwear maker’s stock, valued at approximately $108,000.

Other large investors have also bought and sold shares of the company. Heck Capital Advisors LLC purchased a new position in shares of NIKE in the 4th quarter valued at approximately $28,000. Caitlin John LLC raised its holdings in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in NIKE during the third quarter valued at $30,000. VitalStone Financial LLC boosted its holdings in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. Finally, Dunhill Financial LLC grew its position in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares during the period. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NKE shares. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $72.00 to $90.00 in a research report on Friday, January 10th. UBS Group reiterated a “neutral” rating and set a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. DA Davidson upgraded NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price objective on shares of NIKE in a research note on Friday. Finally, Bank of America dropped their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a 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 data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $88.62.

NIKE Trading Up 3.2 %

Shares of NYSE:NKE opened at $70.90 on Tuesday. The stock’s 50-day simple moving average is $75.12 and its two-hundred day simple moving average is $78.09. The stock has a market capitalization of $104.88 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (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 company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. Analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. 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 is 49.38%.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by 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.