Headlands Technologies LLC Invests $756,000 in NIKE, Inc. (NYSE:NKE)

Headlands Technologies LLC purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,961 shares of the footwear maker’s stock, valued at approximately $756,000.

A number of other hedge funds have also bought and sold shares of NKE. Citizens Financial Group Inc. RI increased its position in shares of NIKE by 4.5% during the 4th quarter. Citizens Financial Group Inc. RI now owns 70,154 shares of the footwear maker’s stock valued at $7,617,000 after purchasing an additional 3,052 shares during the last quarter. Golden State Equity Partners grew its position in NIKE by 3.5% during the fourth quarter. Golden State Equity Partners now owns 5,386 shares of the footwear maker’s stock valued at $585,000 after buying an additional 184 shares during the period. Spinnaker Trust raised its position in NIKE by 2.1% in the fourth quarter. Spinnaker Trust now owns 50,315 shares of the footwear maker’s stock worth $5,463,000 after acquiring an additional 1,037 shares during the period. K.J. Harrison & Partners Inc purchased a new position in NIKE in the fourth quarter valued at about $3,347,000. Finally, Callan Capital LLC bought a new position in shares of NIKE during the 4th quarter valued at approximately $240,000. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NKE. Evercore ISI reduced their target price on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. HSBC lowered their target price on shares of NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Monday, January 22nd. Williams Trading reissued a “sell” rating and issued a $85.00 price target (down previously from $92.00) on shares of NIKE in a research note on Monday, March 18th. Truist Financial restated a “hold” rating and set a $111.00 price objective on shares of NIKE in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 target price (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Price Performance

Shares of NYSE NKE traded up $0.18 during mid-day trading on Friday, reaching $94.12. The company’s stock had a trading volume of 6,115,744 shares, compared to its average volume of 9,124,711. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68. The stock has a fifty day moving average of $96.96 and a two-hundred day moving average of $103.30. The firm has a market capitalization of $142.06 billion, a PE ratio of 27.68, a P/E/G ratio of 1.81 and a beta of 1.08.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, sell-side analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.57%. The ex-dividend date was Friday, March 1st. NIKE’s payout ratio is currently 43.53%.

About NIKE

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.