Segment Wealth Management LLC Sells 114,686 Shares of NIKE, Inc. (NYSE:NKE)

Segment Wealth Management LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 91.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,249 shares of the footwear maker’s stock after selling 114,686 shares during the period. Segment Wealth Management LLC’s holdings in NIKE were worth $776,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Solidarity Wealth LLC boosted its stake in shares of NIKE by 2.1% in the 4th quarter. Solidarity Wealth LLC now owns 73,159 shares of the footwear maker’s stock valued at $5,566,000 after purchasing an additional 1,521 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in NIKE by 5.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 240,685 shares of the footwear maker’s stock valued at $18,212,000 after purchasing an additional 12,074 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its position in NIKE by 23.5% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 16,871 shares of the footwear maker’s stock valued at $1,277,000 after buying an additional 3,207 shares in the last quarter. Ballentine Partners LLC grew its stake in NIKE by 2.4% during the fourth quarter. Ballentine Partners LLC now owns 24,207 shares of the footwear maker’s stock worth $1,832,000 after buying an additional 569 shares during the last quarter. Finally, Addenda Capital Inc. raised its stake in shares of NIKE by 11.6% in the fourth quarter. Addenda Capital Inc. now owns 171,507 shares of the footwear maker’s stock valued at $13,040,000 after acquiring an additional 17,824 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Down 0.3 %

Shares of NIKE stock opened at $70.89 on Tuesday. The company has a market capitalization of $104.85 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business has a 50-day moving average of $75.77 and a two-hundred day moving average of $77.95. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. As a group, equities analysts predict that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.26%. NIKE’s dividend payout ratio is presently 49.38%.

Insider Activity

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The stock was purchased 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 directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research analyst reports. Robert W. Baird decreased their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Truist Financial cut their price target on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Bank of America decreased their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Finally, Jefferies Financial Group raised their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. 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 company’s stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Company 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.