Waycross Partners LLC Boosts Stake in NIKE, Inc. $NKE

Waycross Partners LLC raised its position in shares of NIKE, Inc. (NYSE:NKE) by 177.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,200 shares of the footwear maker’s stock after buying an additional 11,000 shares during the quarter. Waycross Partners LLC’s holdings in NIKE were worth $1,199,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC bought a new stake in NIKE in the second quarter worth $31,000. Guerra Advisors Inc bought a new position in NIKE during the third quarter valued at $34,000. Abich Financial Wealth Management LLC purchased a new position in shares of NIKE in the 3rd quarter worth $43,000. NewSquare Capital LLC increased its holdings in shares of NIKE by 54.4% in the 2nd quarter. NewSquare Capital LLC now owns 732 shares of the footwear maker’s stock worth $52,000 after buying an additional 258 shares during the last quarter. Finally, Field & Main Bank raised its position in shares of NIKE by 36.4% during 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 in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE stock opened at $64.74 on Wednesday. The company has a market capitalization of $95.84 billion, a P/E ratio of 38.08, a P/E/G ratio of 3.23 and a beta of 1.27. The company’s 50-day simple moving average is $63.55 and its two-hundred day simple moving average is $67.57. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $12.19 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The company’s revenue was up .6% on a year-over-year basis. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently commented on NKE shares. Piper Sandler set a $75.00 price target on shares of NIKE and gave the company an “overweight” rating in a report on Friday, December 19th. Citigroup reaffirmed a “neutral” rating and issued a $65.00 price objective (down from $70.00) on shares of NIKE in a research note on Friday, December 19th. Raymond James Financial reissued a “market perform” rating on shares of NIKE in a research report on Monday, December 15th. Daiwa Securities Group lowered their price target on NIKE from $75.00 to $61.00 in a research report on Tuesday, December 23rd. Finally, Sanford C. Bernstein reiterated a “buy” rating and set a $85.00 price objective on shares of NIKE in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $74.61.

Insider Transactions at NIKE

In other NIKE news, CEO Elliott Hill purchased 16,388 shares of NIKE stock in a transaction dated Monday, December 29th. The stock was acquired at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the acquisition, the chief executive officer owned 241,587 shares in the company, valued at $14,760,965.70. This trade represents a 7.28% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy D. Cook acquired 50,000 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were acquired at an average price of $58.97 per share, for a total transaction of $2,948,500.00. Following the completion of the purchase, the director owned 105,480 shares of the company’s stock, valued at approximately $6,220,155.60. This represents a 90.12% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 75,079 shares of company stock valued at $4,449,887. 0.80% of the stock is currently owned by corporate insiders.

About NIKE

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).