64,000 Shares in NIKE, Inc. (NYSE:NKE) Acquired by Olstein Capital Management L.P.

Olstein Capital Management L.P. bought 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 institutional investor bought 64,000 shares of the footwear maker’s stock, valued at approximately $4,843,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NKE. Loomis Sayles & Co. L P increased its stake in shares of NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after purchasing an additional 6,507,856 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in NIKE by 358.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after purchasing an additional 2,357,745 shares during the period. State Street Corp increased its position in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after buying an additional 1,862,021 shares in the last quarter. Holocene Advisors LP bought a new position in shares of NIKE in the third quarter worth about $148,635,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of NIKE in the third quarter worth about $144,927,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NKE has been the subject of several analyst reports. DA Davidson raised shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Telsey Advisory Group cut shares of NIKE from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Stifel Nicolaus cut their price target on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Truist Financial lowered their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Wells Fargo & Company cut their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Stock Down 0.9 %

NYSE NKE opened at $73.60 on Friday. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The firm has a market capitalization of $108.86 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.36 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $75.45 and a two-hundred day moving average of $77.86.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping 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 analysts’ expectations of $12.11 billion. During the same period in the previous year, the company earned $1.03 EPS. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio is presently 49.38%.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.

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.