Entropy Technologies LP Raises Stock Holdings in NIKE, Inc. (NYSE:NKE)

Entropy Technologies LP grew its stake in NIKE, Inc. (NYSE:NKE) by 239.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,603 shares of the footwear maker’s stock after buying an additional 59,652 shares during the quarter. NIKE makes up 0.7% of Entropy Technologies LP’s portfolio, making the stock its 18th biggest holding. Entropy Technologies LP’s holdings in NIKE were worth $6,402,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Empowered Funds LLC grew its position in shares of NIKE by 595.0% during the fourth quarter. Empowered Funds LLC now owns 161,345 shares of the footwear maker’s stock worth $12,209,000 after purchasing an additional 138,131 shares in the last quarter. Farmers & Merchants Investments Inc. grew its position in shares of NIKE by 1.3% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 196,586 shares of the footwear maker’s stock worth $14,876,000 after purchasing an additional 2,485 shares in the last quarter. Apollon Wealth Management LLC grew its position in shares of NIKE by 5.2% during the fourth quarter. Apollon Wealth Management LLC now owns 24,218 shares of the footwear maker’s stock worth $1,833,000 after purchasing an additional 1,203 shares in the last quarter. Beaumont Asset Management L.L.C. purchased a new stake in shares of NIKE during the fourth quarter worth about $654,000. Finally, Vest Financial LLC grew its position in shares of NIKE by 36.9% during the fourth quarter. Vest Financial LLC now owns 443,570 shares of the footwear maker’s stock worth $33,565,000 after purchasing an additional 119,449 shares in the last quarter. Hedge funds and other 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.

Wall Street Analysts Forecast Growth

NKE has been the subject of several research analyst reports. TD Cowen cut their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and dropped their price target for the company from $102.00 to $72.00 in a research note on Friday. Robert W. Baird dropped their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Evercore ISI dropped their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Fifteen 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. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Trading Down 4.3 %

NKE opened at $68.69 on Friday. The stock’s fifty day moving average is $75.12 and its two-hundred day moving average is $78.01. The company has a market capitalization of $101.60 billion, a P/E ratio of 21.20, 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. 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 released 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 for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS. Analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

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

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.