Banco de Sabadell S.A Raises Holdings in NIKE, Inc. (NYSE:NKE)

Banco de Sabadell S.A boosted its stake in NIKE, Inc. (NYSE:NKE) by 1.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 15,966 shares of the footwear maker’s stock after buying an additional 188 shares during the period. Banco de Sabadell S.A’s holdings in NIKE were worth $1,208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Range Financial Group LLC purchased a new position in shares of NIKE in the fourth quarter worth $642,000. Cacti Asset Management LLC purchased a new position in shares of NIKE in the fourth quarter valued at about $9,987,000. Capricorn Fund Managers Ltd bought a new position in shares of NIKE during the fourth quarter valued at about $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC grew its stake in shares of NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Robert W. Baird lowered their price target on NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research report on Friday. Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and raised their price target for the stock from $75.00 to $115.00 in a research note on Monday, February 24th. Needham & Company LLC reduced their price objective on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Finally, DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Fifteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.38.

NIKE Stock Down 5.4 %

Shares of NIKE stock opened at $68.02 on Friday. The company has a 50-day simple moving average of $74.70 and a two-hundred day simple moving average of $77.43. NIKE, Inc. has a 52-week low of $65.17 and a 52-week high of $98.04. 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 stock has a market capitalization of $100.60 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the business earned $0.98 EPS. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is currently 53.16%.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were bought 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 approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently 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.