XML Financial LLC Increases Holdings in NIKE, Inc. (NYSE:NKE)

XML Financial LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,991 shares of the footwear maker’s stock after purchasing an additional 309 shares during the quarter. XML Financial LLC’s holdings in NIKE were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Range Financial Group LLC purchased a new stake in NIKE during the 4th quarter valued at approximately $642,000. Cacti Asset Management LLC purchased a new position in NIKE during the fourth quarter valued at $9,987,000. Capricorn Fund Managers Ltd bought a new stake in NIKE in the 4th quarter valued at $5,384,000. FNY Investment Advisers LLC lifted its stake in NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares in the last quarter. Finally, Eagle Rock Investment Company LLC boosted its holdings in shares of NIKE by 49.2% during the 4th quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock valued at $4,589,000 after purchasing an additional 19,991 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.5 %

Shares of NYSE:NKE opened at $74.44 on Friday. 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 business’s 50 day moving average is $75.54 and its 200 day moving average is $77.88. The stock has a market cap of $110.10 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 2.33 and a beta of 1.02. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43.

NIKE (NYSE:NKE) last announced its quarterly 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. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the firm posted $1.03 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. Sell-side analysts predict that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is presently 49.38%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NKE. TD Cowen reduced their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Robert W. Baird decreased their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Wells Fargo & Company cut their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Telsey Advisory Group downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Finally, Truist Financial dropped their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Fourteen research 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, the stock has an average rating of “Moderate Buy” and an average price target of $89.96.

Insider Activity

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

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.