Transcend Capital Advisors LLC Has $1.60 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Transcend Capital Advisors LLC raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 57.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 21,098 shares of the footwear maker’s stock after acquiring an additional 7,666 shares during the period. Transcend Capital Advisors LLC’s holdings in NIKE were worth $1,596,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Foundations Investment Advisors LLC grew its position in shares of NIKE by 26.5% during the 3rd quarter. Foundations Investment Advisors LLC now owns 4,804 shares of the footwear maker’s stock worth $425,000 after buying an additional 1,006 shares during the period. Private Advisor Group LLC grew its holdings in NIKE by 2.9% during the third quarter. Private Advisor Group LLC now owns 75,274 shares of the footwear maker’s stock valued at $6,654,000 after purchasing an additional 2,108 shares during the period. McAdam LLC increased its stake in NIKE by 6.3% in the third quarter. McAdam LLC now owns 2,852 shares of the footwear maker’s stock valued at $252,000 after purchasing an additional 169 shares in the last quarter. PSI Advisors LLC raised its holdings in NIKE by 26.3% in the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares during the period. Finally, HT Partners LLC bought a new position in shares of NIKE during the third quarter worth $226,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on NKE. JPMorgan Chase & Co. lowered their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Truist Financial decreased their target price on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada dropped their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley decreased their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This 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 owned by insiders.

NIKE Stock Performance

Shares of NKE opened at $76.50 on Friday. The company has a market cap of $113.15 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The firm has a 50-day moving average of $74.31 and a 200-day moving average of $78.09. NIKE, Inc. has a one year low of $68.62 and a one year high of $106.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.03 earnings per share. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is presently 49.38%.

NIKE 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.