Modus Advisors LLC Invests $85,000 in NIKE, Inc. (NYSE:NKE)

Modus Advisors LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,129 shares of the footwear maker’s stock, valued at approximately $85,000.

Several other hedge funds also recently made changes to their positions in NKE. Loomis Sayles & Co. L P boosted its holdings in shares of NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after buying an additional 6,507,856 shares during the period. State Street Corp boosted its position in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Holocene Advisors LP bought a new position in NIKE during the 3rd quarter worth $148,635,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in NIKE in the third quarter worth $144,927,000. Finally, Renaissance Technologies LLC lifted its stake in NIKE by 351.7% in the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after buying an additional 1,550,611 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Down 0.5 %

NIKE stock opened at $73.31 on Friday. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The firm has a market cap of $109.92 billion, a PE ratio of 21.01, a P/E/G ratio of 1.89 and a beta of 1.02. The firm’s 50 day moving average price is $77.02 and its two-hundred day moving average price is $79.46.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.18%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is presently 49.38%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NKE shares. JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. TD Cowen decreased their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Robert W. Baird lowered their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Finally, Bank of America cut their target price on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $89.58.

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.