NIKE, Inc. (NYSE:NKE) Shares Acquired by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC increased its stake in NIKE, Inc. (NYSE:NKE) by 49.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 60,642 shares of the footwear maker’s stock after acquiring an additional 19,991 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in NIKE were worth $4,589,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV increased its holdings in NIKE by 1.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 376,060 shares of the footwear maker’s stock valued at $28,344,000 after buying an additional 4,790 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of NIKE by 7.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 103,575 shares of the footwear maker’s stock worth $7,734,000 after acquiring an additional 6,962 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of NIKE by 0.3% in the 2nd quarter. Blair William & Co. IL now owns 381,012 shares of the footwear maker’s stock valued at $28,717,000 after acquiring an additional 1,206 shares during the last quarter. Marathon Trading Investment Management LLC raised its position in shares of NIKE by 20.6% during the 2nd quarter. Marathon Trading Investment Management LLC now owns 4,100 shares of the footwear maker’s stock valued at $309,000 after acquiring an additional 700 shares in the last quarter. Finally, Brighton Jones LLC lifted its stake in NIKE by 10.0% during the second quarter. Brighton Jones LLC now owns 223,044 shares of the footwear maker’s stock worth $16,811,000 after purchasing an additional 20,353 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at $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 is available at the SEC website. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Guggenheim lowered their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Evercore ISI dropped their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Sanford C. Bernstein dropped their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Finally, Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $72.00 to $90.00 in a report on Friday, January 10th. 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. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Price Performance

Shares of NIKE stock opened at $71.11 on Friday. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a market cap of $105.18 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. The company’s 50-day moving average price is $75.97 and its two-hundred day moving average price is $78.01.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 earnings per share. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.1 EPS for the current fiscal 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 dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. NIKE’s dividend payout ratio (DPR) is currently 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.