Carnegie Lake Advisors LLC Purchases 17,835 Shares of NIKE, Inc. (NYSE:NKE)

Carnegie Lake Advisors LLC boosted its position in NIKE, Inc. (NYSE:NKE) by 93.1% during the 4th quarter, HoldingsChannel reports. The firm owned 36,985 shares of the footwear maker’s stock after purchasing an additional 17,835 shares during the period. NIKE comprises about 1.1% of Carnegie Lake Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Carnegie Lake Advisors LLC’s holdings in NIKE were worth $2,799,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Heck Capital Advisors LLC purchased a new position in shares of NIKE in the fourth quarter worth approximately $28,000. Caitlin John LLC raised its position in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares during the period. Teachers Insurance & Annuity Association of America purchased a new position in shares of NIKE during the 3rd quarter worth $30,000. VitalStone Financial LLC grew its position in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Finally, Dunhill Financial LLC increased its stake in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

Shares of NYSE:NKE opened at $70.90 on Tuesday. The firm has a fifty day simple moving average of $75.12 and a two-hundred day simple moving average of $78.09. 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 stock has a market capitalization of $104.88 billion, a P/E ratio of 21.88, a PEG ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 52 week low of $68.62 and a 52 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. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared 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 annualized dividend and a yield of 2.26%. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is presently 49.38%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NKE shares. BMO Capital Markets boosted their price target on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Morgan Stanley lowered their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 target price on shares of NIKE in a report on Thursday, February 6th. Truist Financial lowered their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Royal Bank of Canada reduced their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE 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.