CX Institutional Has $5.38 Million Stock Position in NIKE, Inc. (NYSE:NKE)

CX Institutional increased its position in shares of NIKE, Inc. (NYSE:NKE) by 21.1% during the fourth quarter, Holdings Channel reports. The fund owned 71,156 shares of the footwear maker’s stock after acquiring an additional 12,394 shares during the quarter. CX Institutional’s holdings in NIKE were worth $5,384,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. RFG Advisory LLC boosted its position in shares of NIKE by 207.1% in the fourth quarter. RFG Advisory LLC now owns 8,735 shares of the footwear maker’s stock worth $661,000 after buying an additional 5,891 shares during the period. Brighton Jones LLC boosted its position in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after acquiring an additional 160,980 shares during the period. Secure Asset Management LLC grew its stake in NIKE by 552.5% during the 4th quarter. Secure Asset Management LLC now owns 27,443 shares of the footwear maker’s stock valued at $2,077,000 after acquiring an additional 23,237 shares in the last quarter. Teamwork Financial Advisors LLC increased its holdings in shares of NIKE by 20.6% in the 4th quarter. Teamwork Financial Advisors LLC now owns 17,935 shares of the footwear maker’s stock valued at $1,357,000 after purchasing an additional 3,068 shares during the period. Finally, D.B. Root & Company LLC increased its holdings in shares of NIKE by 4.1% in the 4th quarter. D.B. Root & Company LLC now owns 16,664 shares of the footwear maker’s stock valued at $1,261,000 after purchasing an additional 662 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NKE shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Guggenheim lowered their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Morgan Stanley cut their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Robert W. Baird lowered their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Finally, Truist Financial cut their price target 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 equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.96.

NIKE Stock Down 1.0 %

NKE opened at $73.54 on Friday. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The business has a 50 day moving average of $75.54 and a 200-day moving average of $77.88. The stock has a market capitalization of $108.77 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 2.36 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the firm earned $1.03 EPS. The business’s revenue was down 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.18%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s payout ratio is currently 49.38%.

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.