NIKE, Inc. (NYSE:NKE) Shares Bought by Brookstone Capital Management

Brookstone Capital Management lifted its holdings in NIKE, Inc. (NYSE:NKE) by 16.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 105,797 shares of the footwear maker’s stock after purchasing an additional 14,621 shares during the quarter. Brookstone Capital Management’s holdings in NIKE were worth $8,006,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Garrison Point Advisors LLC boosted its position in shares of NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares in the last quarter. Stephens Consulting LLC grew its position in NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after buying an additional 128 shares during the period. PSI Advisors LLC lifted its position in shares of NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after acquiring an additional 130 shares during the period. Chapin Davis Inc. boosted its stake in shares of NIKE by 1.2% during the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after acquiring an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC grew its holdings in shares of NIKE by 1.6% in the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after acquiring an additional 133 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NKE. Bank of America cut their price target on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. TD Cowen reduced their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Sanford C. Bernstein cut their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Jefferies Financial Group raised their price objective on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Finally, Truist Financial dropped 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. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.96.

NIKE Price Performance

NKE stock opened at $72.16 on Tuesday. The firm has a market cap of $106.73 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $107.43. The stock has a 50-day simple moving average of $76.19 and a 200-day simple moving average of $78.09.

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

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 49.38%.

NIKE Company 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.