Murphy & Mullick Capital Management Corp Makes New Investment in NIKE, Inc. (NYSE:NKE)

Murphy & Mullick Capital Management Corp acquired a new stake in shares of NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,004 shares of the footwear maker’s stock, valued at approximately $228,000.

Other hedge funds have also made changes to their positions in the company. Range Financial Group LLC acquired a new stake in shares of NIKE during the 4th quarter worth approximately $642,000. Cacti Asset Management LLC bought a new position in shares of NIKE during the 4th quarter worth about $9,987,000. Capricorn Fund Managers Ltd acquired a new stake in shares of NIKE during the 4th quarter valued at about $5,384,000. Klein Pavlis & Peasley Financial Inc. increased its stake in NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after acquiring an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC raised its position in 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 in the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of recent research reports. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Royal Bank of Canada reduced their target price on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a research note on Friday, March 21st. Needham & Company LLC lowered their target price on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Finally, Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and cut their price target for the company from $102.00 to $72.00 in a report on Friday, February 7th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Price Performance

Shares of NKE opened at $66.64 on Wednesday. The stock has a market cap of $98.57 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 1 year low of $65.17 and a 1 year high of $98.04. The stock’s 50-day moving average price is $74.52 and its two-hundred day moving average price is $77.21. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

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

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.40%. NIKE’s dividend payout ratio is presently 53.16%.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. acquired 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, for a total transaction of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

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.