Cascade Financial Partners LLC Takes Position in NIKE, Inc. (NYSE:NKE)

Cascade Financial Partners LLC bought a new stake in NIKE, Inc. (NYSE:NKE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,108 shares of the footwear maker’s stock, valued at approximately $235,000.

Other institutional investors also recently modified their holdings of the company. Range Financial Group LLC bought a new position in NIKE during the fourth quarter valued at $642,000. Cacti Asset Management LLC bought a new position in NIKE during the fourth quarter valued at $9,987,000. Capricorn Fund Managers Ltd bought a new position in NIKE during the fourth quarter valued at $5,384,000. Klein Pavlis & Peasley Financial Inc. grew its holdings in NIKE by 31.1% during 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 purchasing an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC grew its holdings in NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Trading Down 0.7 %

NYSE NKE opened at $73.62 on Thursday. The stock’s 50-day simple moving average is $74.73 and its two-hundred day simple moving average is $77.99. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $102.49. 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 company has a market capitalization of $108.89 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly 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 business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter last year, the business posted $1.03 earnings per share. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NKE shares. Stifel Nicolaus reduced their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Guggenheim reissued a “buy” rating and set a $110.00 price objective on shares of NIKE in a report on Wednesday, February 12th. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and increased their target price for the stock from $75.00 to $115.00 in a research report on Monday, February 24th. Bank of America dropped their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.77.

Insider Activity

In other news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

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.