Minot DeBlois Advisors LLC Invests $42,000 in NIKE, Inc. (NYSE:NKE)

Minot DeBlois Advisors LLC purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 560 shares of the footwear maker’s stock, valued at approximately $42,000.

Several other large investors have also recently added to or reduced their stakes in NKE. Norges Bank acquired a new stake in NIKE during the fourth quarter worth $1,126,288,000. Wellington Management Group LLP boosted its position in shares of NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Pacer Advisors Inc. increased its stake 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 valued at $516,166,000 after acquiring an additional 6,709,985 shares during the period. Bank of New York Mellon Corp raised its position in NIKE by 18.1% in the fourth 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 purchasing an additional 3,121,929 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after purchasing an additional 2,416,601 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Down 0.4%

NYSE:NKE opened at $62.35 on Wednesday. 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 business’s 50-day simple moving average is $61.91 and its 200-day simple moving average is $71.02. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The stock has a market capitalization of $92.22 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The firm’s revenue was down 9.1% compared to the same quarter last year. Sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Holmes Swan acquired 8,600 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NKE. The Goldman Sachs Group dropped their target price on NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Telsey Advisory Group dropped their target price on shares of NIKE from $80.00 to $70.00 and set a “market perform” rating for the company in a research report on Tuesday, May 6th. Jefferies Financial Group upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their price target for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Truist Financial dropped their price objective on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. reduced their target price on NIKE from $64.00 to $56.00 and set a “neutral” rating on the stock in a report on Monday, May 5th. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $80.11.

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.