NEOS Investment Management LLC Acquires 23,991 Shares of NIKE, Inc. $NKE

NEOS Investment Management LLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 21.3% during the third quarter, Holdings Channel.com reports. The fund owned 136,628 shares of the footwear maker’s stock after acquiring an additional 23,991 shares during the period. NEOS Investment Management LLC’s holdings in NIKE were worth $9,527,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NKE. Twin Peaks Wealth Advisors LLC acquired a new position in NIKE during the second quarter valued at approximately $31,000. Guerra Advisors Inc acquired a new stake in shares of NIKE during the third quarter valued at about $34,000. Abich Financial Wealth Management LLC acquired a new stake in NIKE during the 3rd quarter worth approximately $43,000. NewSquare Capital LLC grew its stake in shares of NIKE by 54.4% in the second quarter. NewSquare Capital LLC now owns 732 shares of the footwear maker’s stock worth $52,000 after purchasing an additional 258 shares during the last quarter. Finally, Field & Main Bank grew its position in shares of NIKE by 36.4% in the 2nd quarter. Field & Main Bank now owns 750 shares of the footwear maker’s stock valued at $53,000 after buying an additional 200 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

NKE opened at $64.74 on Wednesday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average price of $63.55 and a 200-day moving average price of $67.57. The stock has a market capitalization of $95.84 billion, a P/E ratio of 38.08, a PEG ratio of 3.23 and a beta of 1.27.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, topping the consensus estimate of $0.37 by $0.16. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The firm had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.19 billion. During the same period last year, the firm posted $0.78 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.64 annualized dividend and a yield of 2.5%. NIKE’s payout ratio is currently 96.47%.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan bought 8,691 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was bought at an average cost of $57.54 per share, for a total transaction of $500,080.14. Following the acquisition, the director directly owned 43,293 shares of the company’s stock, valued at $2,491,079.22. The trade was a 25.12% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy D. Cook purchased 50,000 shares of NIKE stock in a transaction that occurred on Monday, December 22nd. The shares were bought at an average price of $58.97 per share, for a total transaction of $2,948,500.00. Following the completion of the transaction, the director owned 105,480 shares in the company, valued at $6,220,155.60. The trade was a 90.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 75,079 shares of company stock worth $4,449,887 over the last three months. Company insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research analyst reports. Oppenheimer reaffirmed an “outperform” rating on shares of NIKE in a research report on Wednesday, December 17th. Citigroup reissued a “neutral” rating and issued a $65.00 price target (down from $70.00) on shares of NIKE in a research report on Friday, December 19th. KeyCorp lowered their target price on NIKE from $90.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, January 22nd. Raymond James Financial reiterated a “market perform” rating on shares of NIKE in a research note on Monday, December 15th. Finally, Telsey Advisory Group cut their target price on shares of NIKE from $75.00 to $72.00 and set a “market perform” rating for the company in a research report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.61.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).