Cacti Asset Management LLC Raises Position in NIKE, Inc. $NKE

Cacti Asset Management LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 3.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 318,054 shares of the footwear maker’s stock after purchasing an additional 11,215 shares during the period. NIKE accounts for 1.5% of Cacti Asset Management LLC’s holdings, making the stock its 19th biggest position. Cacti Asset Management LLC’s holdings in NIKE were worth $22,044,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NKE. Brighton Jones LLC grew its stake in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after acquiring an additional 160,980 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of NIKE in the first quarter valued at approximately $226,000. Horizon Investments LLC increased its stake in shares of NIKE by 2.3% during the first quarter. Horizon Investments LLC now owns 24,510 shares of the footwear maker’s stock valued at $1,556,000 after buying an additional 557 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of NIKE by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,145,592 shares of the footwear maker’s stock worth $326,613,000 after purchasing an additional 226,284 shares during the period. Finally, American Century Companies Inc. raised its position in shares of NIKE by 35.6% in the 1st quarter. American Century Companies Inc. now owns 1,229,745 shares of the footwear maker’s stock worth $78,064,000 after acquiring an additional 322,866 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 0.4%

NIKE stock opened at $67.49 on Monday. The business’s 50-day moving average price is $65.40 and its 200 day moving average price is $69.37. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The firm has a market cap of $99.76 billion, a price-to-earnings ratio of 34.61, a price-to-earnings-growth ratio of 2.37 and a beta of 1.28. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, December 1st. NIKE’s payout ratio is currently 84.10%.

Analysts Set New Price Targets

NKE has been the subject of several recent analyst reports. Sanford C. Bernstein restated a “buy” rating and issued a $90.00 target price on shares of NIKE in a research note on Monday, October 13th. DZ Bank raised NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. Piper Sandler set a $84.00 price objective on NIKE and gave the company an “overweight” rating in a report on Wednesday, October 1st. Citigroup downgraded NIKE from a “positive” rating to a “mixed” rating in a report on Friday. Finally, BTIG Research reiterated a “buy” rating and issued a $100.00 price target on shares of NIKE in a report on Friday. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $81.10.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the completion of the transaction, the chairman directly owned 647,615 shares of the company’s stock, valued at $41,965,452. This represents a 11.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jorgen Vig Knudstorp bought 16,150 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were acquired at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the transaction, the director directly owned 21,388 shares in the company, valued at approximately $1,327,980.92. This represents a 308.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.80% of the stock is owned by company 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.