Cacti Asset Management LLC Makes New Investment in NIKE, Inc. (NYSE:NKE)

Cacti Asset Management LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 133,785 shares of the footwear maker’s stock, valued at approximately $9,987,000. NIKE accounts for about 0.8% of Cacti Asset Management LLC’s investment portfolio, making the stock its 24th biggest position.

A number of other hedge funds have also recently made changes to their positions in NKE. Teachers Insurance & Annuity Association of America bought a new position in NIKE during the third quarter valued at $30,000. VitalStone Financial LLC increased its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Dunhill Financial LLC increased its position in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in NIKE in the second quarter valued at approximately $48,000. Finally, Ecofi Investissements SA bought a new stake in NIKE during the second quarter valued at approximately $49,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of analyst reports. Evercore ISI decreased their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Royal Bank of Canada lowered their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Piper Sandler reissued a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. Finally, Barclays dropped their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.58.

NIKE Stock Performance

NIKE stock traded down $1.22 during trading hours on Thursday, hitting $74.45. 3,228,424 shares of the stock traded hands, compared to its average volume of 11,637,070. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $107.48. The stock has a market capitalization of $111.63 billion, a price-to-earnings ratio of 21.33, a P/E/G ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm’s 50 day moving average price is $77.13 and its 200-day moving average price is $79.50.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, equities analysts expect that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.15%. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

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.