Profit Investment Management LLC Has $832,000 Holdings in NIKE, Inc. (NYSE:NKE)

Profit Investment Management LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,989 shares of the footwear maker’s stock after selling 432 shares during the quarter. Profit Investment Management LLC’s holdings in NIKE were worth $832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV lifted its position in shares of NIKE by 1.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 376,060 shares of the footwear maker’s stock worth $28,344,000 after buying an additional 4,790 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in NIKE by 7.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 103,575 shares of the footwear maker’s stock worth $7,734,000 after purchasing an additional 6,962 shares during the period. Blair William & Co. IL grew its holdings in NIKE by 0.3% during the second quarter. Blair William & Co. IL now owns 381,012 shares of the footwear maker’s stock valued at $28,717,000 after purchasing an additional 1,206 shares during the last quarter. Marathon Trading Investment Management LLC raised its position in shares of NIKE by 20.6% in the second quarter. Marathon Trading Investment Management LLC now owns 4,100 shares of the footwear maker’s stock valued at $309,000 after purchasing an additional 700 shares during the period. Finally, Brighton Jones LLC lifted its stake in shares of NIKE by 10.0% in the second quarter. Brighton Jones LLC now owns 223,044 shares of the footwear maker’s stock worth $16,811,000 after buying an additional 20,353 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on NKE shares. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Evercore ISI decreased their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. UBS Group reaffirmed a “neutral” rating and issued a $73.00 price target on shares of NIKE in a research report on Thursday, December 26th. Telsey Advisory Group cut NIKE from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $93.00 to $80.00 in a research report on Friday, December 20th. Finally, Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.96.

NIKE Stock Up 0.1 %

NYSE NKE opened at $71.11 on Friday. The stock’s 50 day simple moving average is $75.97 and its 200 day simple moving average is $78.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43. The firm has a market cap of $105.18 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is presently 49.38%.

Insider Activity

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by insiders.

NIKE 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.