Perennial Advisors LLC Buys New Shares in NIKE, Inc. (NYSE:NKE)

Perennial Advisors LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 20,946 shares of the footwear maker's stock, valued at approximately $1,585,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NKE. Heck Capital Advisors LLC acquired a new position in shares of NIKE during the fourth quarter valued at about $28,000. Caitlin John LLC grew its stake in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock valued at $28,000 after acquiring an additional 200 shares during the period. Roxbury Financial LLC bought a new position in shares of NIKE in the fourth quarter valued at about $30,000. LFA Lugano Financial Advisors SA boosted its stake in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after buying an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. bought a new stake in shares of NIKE during the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Stock Down 1.5%

Shares of NYSE NKE traded down $0.91 during mid-day trading on Friday, hitting $60.53. The company had a trading volume of 5,928,521 shares, compared to its average volume of 14,961,156. The company has a market capitalization of $89.53 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. The business's 50-day simple moving average is $59.20 and its 200 day simple moving average is $69.78. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business's revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. On average, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Monday, June 2nd. NIKE's payout ratio is presently 53.16%.

Analyst Ratings Changes

NKE has been the topic of a number of recent research reports. Royal Bank of Canada cut their target price on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 20th. Piper Sandler lowered their price objective on NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Guggenheim restated a "buy" rating and set a $110.00 target price on shares of NIKE in a research report on Wednesday, February 12th. Telsey Advisory Group lowered their price target on NIKE from $80.00 to $70.00 and set a "market perform" rating for the company in a report on Tuesday, May 6th. Finally, Stifel Nicolaus decreased their price target on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $80.26.

Insider Activity

In related news, Director Robert Holmes Swan acquired 8,600 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

About NIKE

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.