Kirtland Hills Capital Management LLC Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

Kirtland Hills Capital Management LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 33.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,038 shares of the footwear maker’s stock after acquiring an additional 4,819 shares during the period. Kirtland Hills Capital Management LLC’s holdings in NIKE were worth $1,441,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE during the third quarter worth about $30,000. Caitlin John LLC boosted its holdings in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in NIKE during the fourth quarter worth about $28,000. Roxbury Financial LLC purchased a new stake in NIKE during the fourth quarter worth about $30,000. Finally, BankPlus Trust Department purchased a new stake in NIKE during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NKE. Bank of America reduced their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $80.00 price target on shares of NIKE in a report on Wednesday, February 19th. Piper Sandler raised 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 report on Friday, January 10th. Evercore ISI reduced their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Morgan Stanley reduced their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.77.

Insider Buying and Selling at NIKE

In other NIKE 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 bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on 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 sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

NIKE Trading Up 2.0 %

NYSE NKE opened at $81.91 on Wednesday. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $106.10. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market capitalization of $121.15 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. The company’s fifty day moving average price is $74.45 and its two-hundred day moving average price is $78.26.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the firm posted $1.03 EPS. The firm’s revenue was down 7.7% compared to the same quarter last year. As a group, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 yield of 1.95%. NIKE’s dividend payout ratio (DPR) is 49.38%.

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.