NorthRock Partners LLC Has $1.14 Million Stock Position in NIKE, Inc. (NYSE:NKE)

NorthRock Partners LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 171.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,074 shares of the footwear maker's stock after purchasing an additional 9,518 shares during the quarter. NorthRock Partners LLC's holdings in NIKE were worth $1,141,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NKE. Wellington Management Group LLP increased its position in shares of NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC increased its position in shares of NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after acquiring an additional 347,178 shares in the last quarter. Capital World Investors increased its holdings in NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Finally, Norges Bank bought a new stake in NIKE during the 4th quarter worth approximately $1,126,288,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction 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 completion of the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. This represents a 15.92% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NKE. China Renaissance began coverage on NIKE in a report on Wednesday, March 19th. They set a "hold" rating for the company. Truist Financial reduced their target price on shares of NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Stifel Nicolaus reduced their price objective on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. The Goldman Sachs Group reduced their price objective on shares of NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Robert W. Baird reduced their target price on NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $80.30.

NIKE Price Performance

NIKE stock opened at $61.77 on Thursday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The business has a 50-day simple moving average of $61.57 and a 200 day simple moving average of $70.96. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market cap of $91.37 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 2.52 and a beta of 1.23.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. NIKE's revenue was down 9.1% on a year-over-year basis. On average, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.59%. NIKE's dividend payout ratio is presently 53.16%.

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.

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