Birch Hill Investment Advisors LLC Has $2.79 Million Holdings in NIKE, Inc. (NYSE:NKE)

Birch Hill Investment Advisors LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 1.7% in the 4th quarter, Holdings Channel reports. The firm owned 36,922 shares of the footwear maker’s stock after selling 629 shares during the quarter. Birch Hill Investment Advisors LLC’s holdings in NIKE were worth $2,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Teachers Insurance & Annuity Association of America bought a new stake in NIKE in the third quarter valued at about $30,000. Caitlin John LLC raised its holdings in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the 4th quarter worth approximately $28,000. VitalStone Financial LLC lifted 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 worth $38,000 after buying an additional 150 shares during the period. Finally, Dunhill Financial LLC boosted its stake in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on NKE shares. Telsey Advisory Group restated a “market perform” rating and issued a $80.00 target price on shares of NIKE in a research note on Thursday. Morgan Stanley dropped their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and raised their price target for the company from $72.00 to $90.00 in a report on Friday, January 10th. TD Cowen decreased their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Finally, BMO Capital Markets lifted 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. Fifteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction that occurred on 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 completion of the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents 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. Company insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $68.69 on Friday. The firm has a market cap of $101.60 billion, a PE ratio of 21.20, a P/E/G ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $107.43. The company’s fifty day simple moving average is $75.12 and its 200-day simple moving average is $78.01. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter last year, the company earned $1.03 EPS. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend 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.