Milestone Asset Management LLC Has $8.36 Million Position in NIKE, Inc. (NYSE:NKE)

Milestone Asset Management LLC grew its position in NIKE, Inc. (NYSE:NKE) by 55.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,488 shares of the footwear maker’s stock after purchasing an additional 39,324 shares during the quarter. NIKE makes up about 1.8% of Milestone Asset Management LLC’s investment portfolio, making the stock its 9th largest holding. Milestone Asset Management LLC’s holdings in NIKE were worth $8,361,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. State Street Corp raised its stake in NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after buying an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC raised its position in shares of NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after purchasing an additional 251,411 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after purchasing an additional 583,207 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of NIKE by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after purchasing an additional 117,187 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

Shares of NKE stock opened at $76.65 on Thursday. The stock has a 50 day moving average of $75.48 and a two-hundred day moving average of $77.96. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The company has a market capitalization of $113.38 billion, a P/E ratio of 23.66, a P/E/G ratio of 2.36 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the firm posted $1.03 EPS. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, equities analysts expect that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The business 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 is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $93.00 to $80.00 in a research report on Friday, December 20th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Guggenheim dropped their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Truist Financial dropped their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. dropped their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. 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 stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the 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 completion of the transaction, the director now owns 34,403 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. Corporate 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.