Probity Advisors Inc. Purchases 4,042 Shares of NIKE, Inc. (NYSE:NKE)

Probity Advisors Inc. raised its position in shares of NIKE, Inc. (NYSE:NKE) by 49.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,221 shares of the footwear maker’s stock after buying an additional 4,042 shares during the quarter. Probity Advisors Inc.’s holdings in NIKE were worth $925,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank bought a new stake in NIKE during the fourth quarter worth about $1,126,288,000. Wellington Management Group LLP boosted its holdings in NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Pacer Advisors Inc. raised its holdings in NIKE by 6,029.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after buying an additional 6,709,985 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after acquiring an additional 3,121,929 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock worth $196,901,000 after acquiring an additional 2,416,601 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on NKE. Robert W. Baird reduced their price objective on NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Telsey Advisory Group reduced their price objective on shares of NIKE from $80.00 to $70.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 6th. Stifel Nicolaus dropped their target price on shares of NIKE from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Needham & Company LLC reduced their price target on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Finally, Piper Sandler decreased their price target on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.26.

Insider Activity

In related news, Director Robert Holmes Swan acquired 8,600 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

NIKE Stock Down 2.1%

Shares of NYSE NKE opened at $60.02 on Tuesday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The firm has a 50-day simple moving average of $59.63 and a two-hundred day simple moving average of $70.00. The company has a market cap of $88.78 billion, a P/E ratio of 18.52, a PEG ratio of 2.52 and a beta of 1.23. 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 issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period last year, the company earned $0.98 EPS. Research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio is currently 53.16%.

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.