NIKE, Inc. $NKE Holdings Boosted by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 21.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,628 shares of the footwear maker’s stock after purchasing an additional 23,991 shares during the quarter. NEOS Investment Management LLC’s holdings in NIKE were worth $9,527,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Twin Peaks Wealth Advisors LLC bought a new position in shares of NIKE in the second quarter worth $31,000. Guerra Advisors Inc bought a new position in shares of NIKE in the third quarter valued at $34,000. Abich Financial Wealth Management LLC purchased a new stake in shares of NIKE during the third quarter valued at $43,000. NewSquare Capital LLC lifted its stake in NIKE by 54.4% during the second quarter. NewSquare Capital LLC now owns 732 shares of the footwear maker’s stock valued at $52,000 after buying an additional 258 shares in the last quarter. Finally, Field & Main Bank boosted its stake in NIKE by 36.4% in the 2nd quarter. Field & Main Bank now owns 750 shares of the footwear maker’s stock worth $53,000 after purchasing an additional 200 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In related news, Director Timothy D. Cook bought 50,000 shares of NIKE stock in a transaction that occurred on Monday, December 22nd. The stock was acquired at an average price of $58.97 per share, with a total value of $2,948,500.00. Following the acquisition, the director owned 105,480 shares of the company’s stock, valued at approximately $6,220,155.60. This represents a 90.12% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Holmes Swan purchased 8,691 shares of the stock in a transaction on Monday, December 22nd. The stock was bought at an average cost of $57.54 per share, for a total transaction of $500,080.14. Following the completion of the acquisition, the director owned 43,293 shares in the company, valued at approximately $2,491,079.22. This trade represents a 25.12% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 75,079 shares of company stock worth $4,449,887 in the last ninety days. Insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on NKE. Weiss Ratings raised shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Raymond James Financial reissued a “market perform” rating on shares of NIKE in a report on Monday, December 15th. Wells Fargo & Company set a $65.00 target price on NIKE and gave the stock an “overweight” rating in a report on Friday, December 19th. Royal Bank Of Canada reiterated a “buy” rating on shares of NIKE in a research report on Wednesday, January 21st. Finally, Guggenheim reaffirmed a “buy” rating on shares of NIKE in a report on Wednesday, December 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $74.61.

NIKE Stock Performance

Shares of NKE opened at $64.74 on Wednesday. The firm has a market cap of $95.84 billion, a P/E ratio of 38.08, a PEG ratio of 3.23 and a beta of 1.27. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. The firm’s 50 day moving average price is $63.55 and its two-hundred day moving average price is $67.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.06.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.19 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. On average, analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.41 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.64 annualized dividend and a dividend yield of 2.5%. NIKE’s payout ratio is currently 96.47%.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).