Essex Savings Bank Grows Position in NIKE, Inc. (NYSE:NKE)

Essex Savings Bank raised its position in NIKE, Inc. (NYSE:NKE) by 53.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,707 shares of the footwear maker’s stock after buying an additional 3,752 shares during the quarter. Essex Savings Bank’s holdings in NIKE were worth $810,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NKE. Presilium Private Wealth LLC increased its holdings in shares of NIKE by 3.6% in the 4th quarter. Presilium Private Wealth LLC now owns 8,700 shares of the footwear maker’s stock valued at $658,000 after acquiring an additional 300 shares during the period. S.E.E.D. Planning Group LLC acquired a new position in NIKE in the fourth quarter valued at $497,000. Laurel Wealth Advisors LLC raised its holdings in shares of NIKE by 7.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 34,115 shares of the footwear maker’s stock valued at $2,581,000 after buying an additional 2,459 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of NIKE by 35.4% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17,648 shares of the footwear maker’s stock worth $1,335,000 after buying an additional 4,614 shares during the period. Finally, Park Avenue Securities LLC grew its holdings in shares of NIKE by 38.1% during the fourth quarter. Park Avenue Securities LLC now owns 14,899 shares of the footwear maker’s stock worth $1,127,000 after buying an additional 4,107 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Trading Down 0.2 %

NYSE:NKE opened at $71.04 on Thursday. The company has a market cap of $105.08 billion, a PE ratio of 21.93, a P/E/G ratio of 2.26 and a beta of 1.02. The business’s 50 day moving average is $76.05 and its two-hundred day moving average is $78.06. 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, Inc. has a 52 week low of $70.53 and a 52 week high of $107.43.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 36.99% and a net margin of 9.98%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 EPS. On average, analysts predict that NIKE, Inc. will post 2.1 EPS for the current 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 $0.40 dividend. 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 annualized dividend and a dividend yield of 2.25%. NIKE’s dividend payout ratio (DPR) is 49.38%.

Analyst Upgrades and Downgrades

Several analysts have commented on NKE shares. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. JPMorgan Chase & Co. cut their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Bank of America lowered their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Needham & Company LLC restated a “buy” rating and set a $84.00 target price on shares of NIKE in a research report on Friday, December 20th. Finally, Royal Bank of Canada decreased their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was 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 directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

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.