Advance Capital Management Inc. Takes Position in NIKE, Inc. (NYSE:NKE)

Advance Capital Management Inc. purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,824 shares of the footwear maker’s stock, valued at approximately $214,000.

Other institutional investors have also recently bought and sold shares of the company. Loomis Sayles & Co. L P grew its holdings in NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after acquiring an additional 6,507,856 shares during the last quarter. State Street Corp grew its stake in shares of 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 during the last quarter. Holocene Advisors LP acquired a new stake in shares of NIKE in the third quarter valued at approximately $148,635,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in NIKE in the 3rd quarter worth approximately $144,927,000. Finally, Renaissance Technologies LLC lifted its holdings in NIKE by 351.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after buying an additional 1,550,611 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock traded down $1.26 on Monday, reaching $72.05. The stock had a trading volume of 14,815,882 shares, compared to its average volume of 11,144,249. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $107.43. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $108.03 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 1.89 and a beta of 1.02. The firm’s 50-day moving average is $76.91 and its two-hundred day moving average is $79.09.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm posted $1.03 earnings per share. On average, research analysts expect that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. 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 2.22%. NIKE’s dividend payout ratio is presently 49.38%.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This 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 link. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Piper Sandler reiterated a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Truist Financial reduced their price target on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Jefferies Financial Group boosted their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Finally, Barclays reduced their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fifteen 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.58.

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.