Advance Capital Management Inc. Purchases New Holdings in NIKE, Inc. (NYSE:NKE)

Advance Capital Management Inc. purchased a new position in shares of NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,824 shares of the footwear maker’s stock, valued at approximately $214,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of NIKE by 11.1% in the 2nd quarter. Victory Capital Management Inc. now owns 711,351 shares of the footwear maker’s stock valued at $53,615,000 after buying an additional 70,903 shares in the last quarter. New York Life Investment Management LLC lifted its stake in NIKE by 0.5% during the second quarter. New York Life Investment Management LLC now owns 189,092 shares of the footwear maker’s stock worth $14,252,000 after purchasing an additional 1,025 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of NIKE by 17.3% in the 2nd quarter. Private Advisor Group LLC now owns 73,166 shares of the footwear maker’s stock valued at $5,515,000 after purchasing an additional 10,794 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in shares of NIKE by 8.0% in the 2nd quarter. Lake Street Advisors Group LLC now owns 11,737 shares of the footwear maker’s stock valued at $888,000 after purchasing an additional 874 shares during the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in shares of NIKE by 28.2% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 160,133 shares of the footwear maker’s stock worth $12,069,000 after buying an additional 35,253 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on NKE. Jefferies Financial Group boosted their target price on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. TD Cowen dropped their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Stifel Nicolaus cut their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Truist Financial lowered their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.58.

NIKE Trading Down 1.7 %

Shares of NKE stock traded down $1.26 during trading hours on Monday, hitting $72.05. 14,815,882 shares of the company were exchanged, compared to its average volume of 11,144,249. The company has a 50 day simple moving average of $76.91 and a two-hundred day simple moving average of $79.09. The firm has a market cap of $108.03 billion, a P/E ratio of 20.64, a P/E/G ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $107.43.

NIKE (NYSE:NKE) last posted its quarterly 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 business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the company posted $1.03 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.72 EPS for the current year.

NIKE Increases Dividend

The company also recently declared 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 of this dividend was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.22%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is presently 49.38%.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

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.