Appleton Partners Inc. MA Grows Stake in NIKE, Inc. $NKE

Appleton Partners Inc. MA increased its holdings in NIKE, Inc. (NYSE:NKE) by 104.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,078 shares of the footwear maker’s stock after buying an additional 16,883 shares during the period. Appleton Partners Inc. MA’s holdings in NIKE were worth $2,307,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NKE. Twin Peaks Wealth Advisors LLC bought a new position in shares of NIKE in the second quarter worth approximately $31,000. Guerra Advisors Inc purchased a new position in NIKE in the 3rd quarter worth approximately $34,000. 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. Field & Main Bank increased its holdings in shares of NIKE by 36.4% in the 2nd quarter. Field & Main Bank now owns 750 shares of the footwear maker’s stock worth $53,000 after buying an additional 200 shares during the last quarter. Finally, Financial Consulate Inc. purchased a new stake in shares of NIKE during the 3rd quarter valued at $57,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 1.9%

Shares of NYSE NKE opened at $63.91 on Friday. The firm’s fifty day moving average is $63.85 and its 200 day moving average is $68.35. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. The company has a market cap of $94.61 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 3.21 and a beta of 1.27.

NIKE (NYSE:NKE) last announced 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 business had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.19 billion. During the same quarter in the prior year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were paid a $0.41 dividend. The ex-dividend date of this dividend was Monday, December 1st. This is a boost from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.6%. NIKE’s payout ratio is 96.47%.

Insiders Place Their Bets

In other NIKE 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 owned 647,615 shares of the company’s stock, valued at $41,965,452. This represents a 11.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Timothy D. Cook acquired 50,000 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was acquired at an average price of $58.97 per share, with a total value of $2,948,500.00. Following the acquisition, the director owned 105,480 shares in the company, valued at approximately $6,220,155.60. This trade represents a 90.12% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 75,079 shares of company stock worth $4,449,887 in the last quarter. 0.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NKE has been the subject of several research reports. Piper Sandler set a $75.00 target price on shares of NIKE and gave the stock an “overweight” rating in a research report on Friday, December 19th. UBS Group reaffirmed a “neutral” rating on shares of NIKE in a research note on Monday, January 5th. Robert W. Baird cut their price objective on NIKE from $93.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, December 19th. Jefferies Financial Group reissued a “buy” rating and set a $110.00 price objective on shares of NIKE in a report on Monday, January 12th. Finally, The Goldman Sachs Group dropped their target price on NIKE from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.61.

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).