New England Research & Management Inc. Purchases 4,550 Shares of NIKE, Inc. (NYSE:NKE)

New England Research & Management Inc. grew its position in shares of NIKE, Inc. (NYSE:NKE) by 35.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,475 shares of the footwear maker’s stock after buying an additional 4,550 shares during the quarter. New England Research & Management Inc.’s holdings in NIKE were worth $1,109,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of NKE. Brighton Jones LLC increased its stake in shares of NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of NIKE by 26.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 410,249 shares of the footwear maker’s stock worth $30,262,000 after purchasing an additional 86,256 shares during the last quarter. Ingalls & Snyder LLC increased its stake in shares of NIKE by 107.6% during the 4th quarter. Ingalls & Snyder LLC now owns 8,623 shares of the footwear maker’s stock worth $653,000 after purchasing an additional 4,469 shares during the last quarter. Avestar Capital LLC increased its stake in shares of NIKE by 23.4% during the 4th quarter. Avestar Capital LLC now owns 8,337 shares of the footwear maker’s stock worth $634,000 after purchasing an additional 1,583 shares during the last quarter. Finally, Life Planning Partners Inc purchased a new stake in shares of NIKE during the 4th quarter worth approximately $11,183,000. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NKE shares. The Goldman Sachs Group decreased their price target on shares of NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley reduced their price objective on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. Bank of America reduced their price objective on shares of NIKE from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, April 25th. BMO Capital Markets cut their price target on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Finally, Piper Sandler dropped their price objective on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $80.26.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

NIKE Stock Down 3.8%

Shares of NIKE stock opened at $60.44 on Friday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The company has a market cap of $89.40 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $59.38 and its 200 day moving average is $68.73.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The firm’s revenue was down 9.1% on a year-over-year basis. Research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.65%. NIKE’s dividend payout ratio is currently 53.16%.

NIKE Company Profile

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.