Mountain Hill Investment Partners Corp. Acquires Shares of 1,107 NIKE, Inc. (NYSE:NKE)

Mountain Hill Investment Partners Corp. bought a new position in shares of NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,107 shares of the footwear maker’s stock, valued at approximately $84,000.

Several other hedge funds have also recently modified their holdings of the stock. Range Financial Group LLC acquired a new position in shares of NIKE during the fourth quarter valued at approximately $642,000. Cacti Asset Management LLC purchased a new stake in shares of NIKE during the fourth quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd acquired a new position in NIKE in the 4th quarter valued at $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its holdings in NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after purchasing an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC boosted its stake in NIKE by 5,745.9% during the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus reduced their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. JPMorgan Chase & Co. decreased their target price on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a research note on Friday. Barclays dropped their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Truist Financial reduced their price objective on NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $80.00 target price on shares of NIKE in a report on Monday, March 17th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.38.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

NIKE Stock Down 5.4 %

Shares of NKE opened at $68.02 on Monday. The company’s 50-day simple moving average is $74.70 and its 200-day simple moving average is $77.40. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 1 year low of $65.17 and a 1 year high of $98.04. The stock has a market capitalization of $100.60 billion, a PE ratio of 20.99, a P/E/G ratio of 2.52 and a beta of 1.02.

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

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.35%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

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.