Rule One Partners LLC Purchases Shares of 52,001 NIKE, Inc. (NYSE:NKE)

Rule One Partners LLC bought a new stake in shares of NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 52,001 shares of the footwear maker’s stock, valued at approximately $3,935,000. NIKE comprises approximately 1.5% of Rule One Partners LLC’s portfolio, making the stock its 6th largest holding.

Several other institutional investors also recently bought and sold shares of NKE. Sunbelt Securities Inc. boosted its holdings in NIKE by 5.9% in the second quarter. Sunbelt Securities Inc. now owns 3,615 shares of the footwear maker’s stock worth $272,000 after acquiring an additional 203 shares in the last quarter. Cetera Investment Advisers raised its position in shares of NIKE by 6.8% in the 2nd quarter. Cetera Investment Advisers now owns 230,215 shares of the footwear maker’s stock valued at $17,351,000 after purchasing an additional 14,584 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in NIKE in the 2nd quarter worth approximately $117,000. Brown Financial Advisors purchased a new stake in NIKE during the 2nd quarter worth approximately $545,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of NIKE in the second quarter worth $11,390,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of research analyst reports. UBS Group reissued a “neutral” rating and set a $73.00 price objective on shares of NIKE in a report on Thursday, December 26th. Stifel Nicolaus dropped their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Finally, Robert W. Baird decreased their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.96.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NYSE NKE opened at $78.28 on Friday. The stock’s fifty day moving average is $75.55 and its two-hundred day moving average is $77.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market capitalization of $115.79 billion, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 2.44 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share 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 return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 earnings per share. On average, research analysts anticipate that NIKE, Inc. will post 2.09 earnings per share for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is 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.