Panoramic Capital Partners LLC Buys New Position in NIKE, Inc. (NYSE:NKE)

Panoramic Capital Partners LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,926 shares of the footwear maker’s stock, valued at approximately $373,000. NIKE comprises approximately 0.3% of Panoramic Capital Partners LLC’s investment portfolio, making the stock its 29th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of NKE. Garrison Point Advisors LLC increased its stake in NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after purchasing an additional 126 shares in the last quarter. Stephens Consulting LLC boosted its position in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after acquiring an additional 128 shares during the last quarter. PSI Advisors LLC grew its position in NIKE by 26.3% in the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after purchasing an additional 130 shares in the last quarter. 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 valued at $742,000 after acquiring an additional 133 shares in the last quarter. Finally, Frisch Financial Group Inc. increased its position in shares of NIKE by 4.7% during the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock worth $269,000 after purchasing an additional 136 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the 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 acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NKE shares. DA Davidson raised NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Barclays dropped their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Morgan Stanley cut their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Evercore ISI cut their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Truist Financial dropped their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Price Performance

NYSE NKE opened at $70.90 on Tuesday. The business’s fifty day moving average is $75.12 and its 200 day moving average is $78.09. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a market capitalization of $104.88 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.03 EPS. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is 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.