Proficio Capital Partners LLC Acquires 209,404 Shares of NIKE, Inc. (NYSE:NKE)

Proficio Capital Partners LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1,029.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 229,739 shares of the footwear maker’s stock after purchasing an additional 209,404 shares during the quarter. Proficio Capital Partners LLC’s holdings in NIKE were worth $17,384,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Kovack Advisors Inc. raised its position in shares of NIKE by 20.3% during the fourth quarter. Kovack Advisors Inc. now owns 8,323 shares of the footwear maker’s stock valued at $630,000 after buying an additional 1,403 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co grew its stake in NIKE by 7.8% during the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,899 shares of the footwear maker’s stock valued at $446,000 after acquiring an additional 426 shares in the last quarter. Harfst & Associates Inc. increased its holdings in NIKE by 0.8% in the 4th quarter. Harfst & Associates Inc. now owns 25,281 shares of the footwear maker’s stock valued at $1,913,000 after acquiring an additional 189 shares during the last quarter. Nwam LLC lifted its stake in NIKE by 2.9% in the 4th quarter. Nwam LLC now owns 6,318 shares of the footwear maker’s stock worth $478,000 after purchasing an additional 176 shares in the last quarter. Finally, Cable Hill Partners LLC boosted its holdings in shares of NIKE by 22.2% during the 4th quarter. Cable Hill Partners LLC now owns 41,230 shares of the footwear maker’s stock valued at $3,136,000 after purchasing an additional 7,479 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Down 0.7 %

NKE stock opened at $79.43 on Friday. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $105.57. The firm’s 50-day moving average is $74.64 and its 200 day moving average is $78.32. The company has a market capitalization of $117.49 billion, a PE ratio of 24.52, a P/E/G ratio of 2.52 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. On average, research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is 49.38%.

Wall Street Analysts Forecast Growth

NKE has been the topic of several research reports. DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Truist Financial reduced their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Evercore ISI lowered their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. BMO Capital Markets boosted their price target on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, Barclays lowered their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

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.