Bennett Selby Investments LP Purchases 16,498 Shares of NIKE, Inc. (NYSE:NKE)

Bennett Selby Investments LP grew its position in NIKE, Inc. (NYSE:NKE) by 82.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,391 shares of the footwear maker’s stock after purchasing an additional 16,498 shares during the quarter. NIKE makes up about 1.1% of Bennett Selby Investments LP’s portfolio, making the stock its 18th largest position. Bennett Selby Investments LP’s holdings in NIKE were worth $2,754,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its holdings in shares of NIKE by 9.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 30,787 shares of the footwear maker’s stock worth $2,330,000 after buying an additional 2,646 shares in the last quarter. CX Institutional boosted its holdings in NIKE by 21.1% in the fourth quarter. CX Institutional now owns 71,156 shares of the footwear maker’s stock worth $5,384,000 after acquiring an additional 12,394 shares in the last quarter. RFG Advisory LLC raised its stake in shares of NIKE by 207.1% in the fourth quarter. RFG Advisory LLC now owns 8,735 shares of the footwear maker’s stock worth $661,000 after purchasing an additional 5,891 shares during the last quarter. Brighton Jones LLC boosted its position in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares during the last quarter. Finally, Secure Asset Management LLC raised its position in NIKE by 552.5% in the 4th quarter. Secure Asset Management LLC now owns 27,443 shares of the footwear maker’s stock valued at $2,077,000 after buying an additional 23,237 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of analyst reports. Guggenheim cut their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. TD Cowen cut their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Wells Fargo & Company cut their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Finally, Truist Financial decreased their price target on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.96.

NIKE Stock Down 0.9 %

NKE stock opened at $73.60 on Friday. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The stock has a market cap of $108.86 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02. 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 company’s 50 day moving average is $75.52 and its 200 day moving average is $77.86.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $1.03 EPS. Sell-side analysts predict that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. 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.