Empirical Asset Management LLC Increases NIKE, Inc. Stake

Empirical Asset Management LLC significantly increased its ownership stake in NIKE, Inc. (NYSE:NKE) by 487.6% during the fourth quarter, according to a recent 13F filing with the Securities and Exchange Commission (SEC). Following this transaction, the fund now holds 17,864 shares of the renowned footwear company's stock after acquiring an additional 14,824 shares during this period. As per the latest filing with the SEC, the total value of Empirical Asset Management LLC's holdings in NIKE is approximately $1,352,000.

Institutional Investments in NIKE

In addition to Empirical Asset Management's activity, several other hedge funds and institutional investors have adjusted their holdings in NIKE. For instance, Brighton Jones LLC increased its stake in the company by 10.0% during the second quarter, bringing its total to 223,044 shares valued at $16,811,000 after purchasing an additional 20,353 shares. GM Advisory Group LLC also raised its position in shares of NIKE by 3.2%, now owning 8,638 shares worth $651,000 following a 267-share purchase. Moreover, Benjamin F. Edwards & Company Inc. boosted its stake in NIKE by 28.0% in the same quarter, holding 97,112 shares valued at $7,319,000 after acquiring 21,259 shares. Other notable investments include AR Asset Management Inc. which lifted its stake by 0.5%, now owning 78,770 shares worth $5,937,000, and Bridges Investment Management Inc. which substantially increased its position in NIKE by 283.8%, now owning 137,859 shares valued at $10,390,000. Currently, institutional investors and hedge funds own approximately 64.25% of NIKE’s stock.

Analyst Ratings Update

Various analysts have recently provided their insights on NIKE stock. Jefferies Financial Group raised their price target on NIKE shares from $80.00 to $85.00 and maintained a "hold" rating. Conversely, Stifel Nicolaus lowered their price target from $79.00 to $75.00 while retaining a "hold" rating. Needham & Company LLC reaffirmed a "buy" rating on NIKE with a target price of $84.00, while Truist Financial reduced their price target from $97.00 to $90.00 along with a "buy" rating. Furthermore, Evercore ISI decreased their price target from $105.00 to $97.00 with an "outperform" rating. Overall, the consensus among analysts indicates a moderate buy rating, with a consensus target price of $89.96.

Insider Transactions at NIKE

In insider news, NIKE's Director, John W. Rogers, Jr., bought 2,500 shares of the stock on December 27th at an average price of $76.65 per share, totaling approximately $191,625. This transaction has resulted in a 7.84% increase in his ownership of the stock, bringing his total to 34,403 shares valued at around $2,636,990. Company insiders currently hold about 1.10% of NIKE's stock.

Performance and Financials of NIKE

As of Friday, NIKE's stock opened at $70.89 and has a debt-to-equity ratio of 0.57, indicating a sound financial situation. The company has also reported a one-year low and high of $70.32 and $107.43, respectively. With a market capitalization of $104.85 billion and a price-to-earnings (P/E) ratio of 21.88, NIKE continues to be a significant player in the market. The company revealed its quarterly earnings data on December 19th, reporting an earnings per share (EPS) of $0.78, surpassing the consensus estimate of $0.63, with revenues of $12.35 billion against expectations of $12.11 billion.

Recent Dividend Announcement

Additionally, NIKE recently announced a quarterly dividend of $0.40, paid on January 2nd to shareholders of record as of December 2nd. This dividend reflects a yearly increase to $1.60, representing an annual yield of 2.26%, up from the previous quarterly payout of $0.37. The company's current dividend payout ratio stands at 49.38%.

About NIKE, Inc.

NIKE, Inc., along with its subsidiaries, is engaged in designing, developing, marketing, and selling athletic footwear, apparel, equipment, accessories, and services worldwide. The company offers a wide range of products under notable brands such as Jumpman and Converse, among others.

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