Procyon Advisors LLC Purchases 324 Shares of NIKE, Inc. (NYSE:NKE)

Procyon Advisors LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,116 shares of the footwear maker’s stock after purchasing an additional 324 shares during the quarter. Procyon Advisors LLC’s holdings in NIKE were worth $881,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Freedom LLC bought a new position in shares of NIKE during the 4th quarter worth about $29,000. Impact Partnership Wealth LLC boosted its position in NIKE by 220.7% in the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after buying an additional 181 shares in the last quarter. Planned Solutions Inc. acquired a new position in NIKE in the fourth quarter valued at about $29,000. Worth Asset Management LLC acquired a new position in NIKE in the first quarter valued at about $32,000. Finally, Gyon Technologies Capital Management LP acquired a new position in NIKE in the fourth quarter valued at about $36,000. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Bank of America reduced their price target on shares of NIKE from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. TheStreet lowered shares of NIKE from a “b” rating to a “c+” rating in a research report on Tuesday, January 9th. Piper Sandler reduced their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Evercore ISI reduced their target price on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Finally, TD Cowen reiterated a “market perform” rating and set a $104.00 target price (down from $129.00) on shares of NIKE in a research report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.75.

NIKE Price Performance

Shares of NKE stock traded up $0.14 during trading hours on Thursday, reaching $94.27. The stock had a trading volume of 1,486,144 shares, compared to its average volume of 9,262,573. The stock’s fifty day simple moving average is $101.65 and its 200 day simple moving average is $103.69. The firm has a market capitalization of $143.47 billion, a PE ratio of 27.76, a PEG ratio of 1.74 and a beta of 1.10. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $128.68.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. On average, equities research analysts predict that NIKE, Inc. will post 3.7 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, March 1st. NIKE’s payout ratio is currently 43.53%.

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.