Pegasus Asset Management Inc. Purchases 1,752 Shares of NIKE, Inc. (NYSE:NKE)

Pegasus Asset Management Inc. boosted its position in NIKE, Inc. (NYSE:NKE) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,762 shares of the footwear maker’s stock after acquiring an additional 1,752 shares during the quarter. Pegasus Asset Management Inc.’s holdings in NIKE were worth $2,252,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Stratos Wealth Advisors LLC raised its stake in NIKE by 6.7% during the third quarter. Stratos Wealth Advisors LLC now owns 8,104 shares of the footwear maker’s stock worth $716,000 after acquiring an additional 506 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in NIKE by 187.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 323,993 shares of the footwear maker’s stock worth $28,641,000 after purchasing an additional 211,461 shares in the last quarter. Horst & Graben Wealth Management LLC grew its stake in shares of NIKE by 2.6% during the third quarter. Horst & Graben Wealth Management LLC now owns 44,351 shares of the footwear maker’s stock worth $3,921,000 after buying an additional 1,138 shares during the last quarter. Raleigh Capital Management Inc. increased its holdings in shares of NIKE by 25.5% during the third quarter. Raleigh Capital Management Inc. now owns 3,478 shares of the footwear maker’s stock worth $307,000 after buying an additional 706 shares in the last quarter. Finally, Foundations Investment Advisors LLC boosted its stake in shares of NIKE by 26.5% during the third quarter. Foundations Investment Advisors LLC now owns 4,804 shares of the footwear maker’s stock valued at $425,000 after purchasing an additional 1,006 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NYSE NKE opened at $77.54 on Wednesday. The company has a market capitalization of $114.70 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 2.38 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $106.62. The company has a 50-day simple moving average of $74.38 and a 200 day simple moving average of $78.07.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the business posted $1.03 EPS. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is currently 49.38%.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NKE has been the subject of several recent research reports. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and upped their price target for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Royal Bank of Canada reduced their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Robert W. Baird lowered their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. UBS Group reiterated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Finally, Bank of America lowered their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

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.