KRS Capital Management LLC Has $251,000 Stock Position in NIKE, Inc. (NYSE:NKE)

KRS Capital Management LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,315 shares of the footwear maker’s stock after selling 183 shares during the quarter. KRS Capital Management LLC’s holdings in NIKE were worth $251,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Range Financial Group LLC acquired a new position in shares of NIKE during the fourth quarter valued at about $642,000. Cacti Asset Management LLC purchased a new position in NIKE during the fourth quarter worth about $9,987,000. FNY Investment Advisers LLC boosted its holdings in NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the last quarter. Eagle Rock Investment Company LLC boosted its holdings in NIKE by 49.2% during the fourth quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock worth $4,589,000 after purchasing an additional 19,991 shares during the last quarter. Finally, Mirador Capital Partners LP boosted its holdings in NIKE by 69.8% during the fourth quarter. Mirador Capital Partners LP now owns 72,986 shares of the footwear maker’s stock worth $5,523,000 after purchasing an additional 30,011 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of several analyst reports. Wells Fargo & Company cut their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $72.00 to $90.00 in a research note on Friday, January 10th. JPMorgan Chase & Co. dropped their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Truist Financial dropped their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Fourteen 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Price Performance

NKE traded down $0.22 during trading hours on Friday, hitting $70.89. The company’s stock had a trading volume of 9,688,434 shares, compared to its average volume of 11,668,856. The business’s 50-day moving average price is $75.87 and its 200-day moving average price is $77.96. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The stock has a market cap of $104.85 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 2.26 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 posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 earnings per share. Sell-side analysts expect that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

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