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Diversify Wealth Management LLC reduced its stake in NIKE, Inc. (NYSE:NKE – Free Report) by 78.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,381 shares of the footwear maker’s stock after selling 12,665 shares during the period. Diversify Wealth Management LLC’s holdings in NIKE were worth $241,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Public Sector Pension Investment Board grew its position in shares of NIKE by 71.5% during the second quarter. Public Sector Pension Investment Board now owns 46,500 shares of the footwear maker’s stock worth $3,505,000 after acquiring an additional 19,390 shares during the last quarter. NBW Capital LLC grew its position in NIKE by 33.8% in the 2nd quarter. NBW Capital LLC now owns 63,614 shares of the footwear maker’s stock worth $4,795,000 after purchasing an additional 16,075 shares during the last quarter. EDENTREE ASSET MANAGEMENT Ltd increased its stake in shares of NIKE by 7.6% in the second quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 132,074 shares of the footwear maker’s stock valued at $9,953,000 after purchasing an additional 9,350 shares during the period. DoubleLine ETF Adviser LP bought a new stake in shares of NIKE during the second quarter valued at approximately $2,454,000. Finally, Delta Investment Management LLC boosted its position in shares of NIKE by 179.5% during the second quarter. Delta Investment Management LLC now owns 8,233 shares of the footwear maker’s stock worth $621,000 after buying an additional 5,287 shares during the period. Institutional investors own 64.25% of the company’s stock.
Insider Buying and Selling
In related news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.
NIKE Trading Up 1.2 %
NYSE NKE opened at $74.07 on Thursday. The firm’s 50 day moving average price is $75.59 and its two-hundred day moving average price is $77.91. The stock has a market cap of $109.56 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 2.25 and a beta of 1.02. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43. 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 (NYSE:NKE – Get Free Report) last issued its quarterly 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 business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.1 EPS for the current year.
NIKE Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio is 49.38%.
Wall Street Analysts Forecast Growth
Several research firms recently commented on NKE. Telsey Advisory Group cut NIKE from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $93.00 to $80.00 in a research report on Friday, December 20th. Morgan Stanley cut their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Jefferies Financial Group increased their target price on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Finally, Guggenheim decreased their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.96.
Check Out Our Latest Report on NIKE
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.
See Also
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