Trueblood Wealth Management LLC Invests $223,000 in NIKE, Inc. (NYSE:NKE)

Trueblood Wealth Management LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,054 shares of the footwear maker’s stock, valued at approximately $223,000.

Other hedge funds have also made changes to their positions in the company. Oliver Luxxe Assets LLC raised its position in shares of NIKE by 2.9% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after buying an additional 1,041 shares during the period. Financial Gravity Asset Management Inc. raised its position in shares of NIKE by 2,332.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after buying an additional 176,476 shares during the period. Daymark Wealth Partners LLC raised its position in shares of NIKE by 883.4% in the 3rd quarter. Daymark Wealth Partners LLC now owns 109,538 shares of the footwear maker’s stock worth $10,474,000 after buying an additional 98,399 shares during the period. Peoples Financial Services CORP. raised its position in shares of NIKE by 6.2% in the 3rd quarter. Peoples Financial Services CORP. now owns 13,039 shares of the footwear maker’s stock worth $1,247,000 after buying an additional 760 shares during the period. Finally, Janney Capital Management LLC raised its position in shares of NIKE by 31.9% in the 3rd quarter. Janney Capital Management LLC now owns 82,382 shares of the footwear maker’s stock worth $7,877,000 after buying an additional 19,947 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $93.98 on Friday. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $128.68. The stock has a market cap of $143.03 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 1.76 and a beta of 1.10. The stock’s 50 day moving average price is $101.52 and its 200 day moving average price is $103.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.29. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Equities research analysts anticipate that NIKE, Inc. will post 3.72 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders 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 yield of 1.57%. The ex-dividend date of this dividend is Friday, March 1st. NIKE’s payout ratio is 43.53%.

Analyst Upgrades and Downgrades

NKE has been the topic of several research reports. Morgan Stanley cut their price objective on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday. UBS Group cut their price objective on NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. TD Cowen reissued a “market perform” rating and issued a $104.00 price objective (down from $129.00) on shares of NIKE in a research report on Friday, December 22nd. The Goldman Sachs Group cut their price objective on NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, Piper Sandler cut their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.52.

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.