Grange Capital LLC Buys Shares of 32,725 NIKE, Inc. (NYSE:NKE)

Grange Capital LLC bought a new stake in NIKE, Inc. (NYSE:NKE) in the 4th quarter, Holdings Channel reports. The institutional investor bought 32,725 shares of the footwear maker’s stock, valued at approximately $2,476,000. NIKE accounts for about 2.6% of Grange Capital LLC’s holdings, making the stock its 12th largest holding.

Other large investors have also recently bought and sold shares of the company. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE in the third quarter valued at about $30,000. VitalStone Financial LLC increased its stake in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the period. Dunhill Financial LLC increased its stake in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares during the period. Ecofi Investissements SA acquired a new stake in shares of NIKE in the second quarter valued at about $49,000. Finally, Riverview Trust Co acquired a new stake in shares of NIKE in the third quarter valued at about $52,000. 64.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NKE has been the subject of several recent research reports. UBS Group reissued a “neutral” rating and issued a $73.00 price target on shares of NIKE in a research note on Thursday, December 26th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Truist Financial decreased their target price on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Morgan Stanley decreased their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Finally, 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. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.96.

Insider Buying and Selling

In other NIKE 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 acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

NIKE Stock Down 0.9 %

NKE stock opened at $73.60 on Friday. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average is $75.45 and its 200-day moving average is $77.86. The firm has a market capitalization of $108.86 billion, a PE ratio of 22.72, a P/E/G ratio of 2.36 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the company earned $1.03 earnings per share. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. Sell-side analysts expect that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. 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. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

NIKE Company 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.