Platform Technology Partners Increases Holdings in NIKE, Inc. (NYSE:NKE)

Platform Technology Partners increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 72.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 22,968 shares of the footwear maker’s stock after acquiring an additional 9,634 shares during the period. Platform Technology Partners’ holdings in NIKE were worth $1,738,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Range Financial Group LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $642,000. Cacti Asset Management LLC purchased a new position in NIKE during the fourth quarter valued at $9,987,000. Capricorn Fund Managers Ltd bought a new stake in NIKE in the 4th quarter valued at $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its stake in NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC boosted its holdings in shares of NIKE by 5,745.9% during the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Activity

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 acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

NIKE Stock Down 4.3 %

Shares of NYSE NKE opened at $68.69 on Friday. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $107.43. The firm has a market capitalization of $101.60 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 2.50 and a beta of 1.01. The stock has a 50 day moving average price of $75.32 and a 200 day moving average price of $78.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last issued its earnings results 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 business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’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 earned $1.03 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.33%. NIKE’s dividend payout ratio (DPR) is 49.38%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NKE shares. Evercore ISI reduced their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Morgan Stanley decreased their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Truist Financial reduced their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Finally, TD Cowen reduced their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

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.