Madison Asset Management LLC Grows Holdings in NIKE, Inc. $NKE

Madison Asset Management LLC raised its position in shares of NIKE, Inc. (NYSE:NKE) by 53.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 640,623 shares of the footwear maker’s stock after purchasing an additional 224,026 shares during the quarter. Madison Asset Management LLC’s holdings in NIKE were worth $44,671,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Twin Peaks Wealth Advisors LLC bought a new stake in NIKE during the second quarter valued at about $31,000. Guerra Advisors Inc purchased a new stake in shares of NIKE during the third quarter worth about $34,000. NewSquare Capital LLC raised its stake in NIKE by 54.4% during the 2nd quarter. NewSquare Capital LLC now owns 732 shares of the footwear maker’s stock valued at $52,000 after purchasing an additional 258 shares during the period. Field & Main Bank raised its stake in 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 purchasing an additional 200 shares during the period. Finally, Financial Consulate Inc. purchased a new position in NIKE in the 3rd quarter worth approximately $57,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

NIKE stock opened at $62.98 on Wednesday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $63.75 and a 200-day moving average price of $68.05. The firm has a market capitalization of $93.23 billion, a PE ratio of 37.05, a price-to-earnings-growth ratio of 3.19 and a beta of 1.27.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.19 billion. During the same period in the prior year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, December 1st. This is an increase from NIKE’s previous quarterly dividend of $0.40. NIKE’s dividend payout ratio (DPR) is presently 96.47%.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of research analyst reports. Needham & Company LLC lowered shares of NIKE from a “buy” rating to a “hold” rating in a report on Thursday, January 8th. Piper Sandler set a $75.00 target price on shares of NIKE and gave the company an “overweight” rating in a research note on Friday, December 19th. UBS Group reiterated a “neutral” rating on shares of NIKE in a report on Monday, January 5th. Oppenheimer restated an “outperform” rating on shares of NIKE in a research report on Wednesday, December 17th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of NIKE in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $74.61.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan bought 8,691 shares of NIKE stock in a transaction on Monday, December 22nd. The shares were acquired at an average price of $57.54 per share, for a total transaction of $500,080.14. Following the completion of the purchase, the director directly owned 43,293 shares in the company, valued at approximately $2,491,079.22. This trade represents a 25.12% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Elliott Hill bought 16,388 shares of the stock in a transaction dated Monday, December 29th. The shares were bought at an average cost of $61.10 per share, with a total value of $1,001,306.80. Following the completion of the purchase, the chief executive officer directly owned 241,587 shares of the company’s stock, valued at approximately $14,760,965.70. This trade represents a 7.28% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 75,079 shares of company stock worth $4,449,887. Insiders own 0.80% of the company’s stock.

NIKE Company Profile

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).