Kiley Juergens Wealth Management LLC Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Kiley Juergens Wealth Management LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 12.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,945 shares of the footwear maker’s stock after selling 2,059 shares during the quarter. Kiley Juergens Wealth Management LLC’s holdings in NIKE were worth $1,131,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. State Street Corp raised its position in shares of NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after buying an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP raised its position in NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares during the period. Geode Capital Management LLC raised its position in NIKE by 1.0% during the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after purchasing an additional 251,411 shares during the period. Legal & General Group Plc lifted its stake in shares of NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after purchasing an additional 583,207 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 0.3 %

Shares of NYSE:NKE opened at $70.89 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. The stock has a market cap of $104.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.25 and a beta of 1.02. The business has a 50-day moving average price of $75.77 and a 200-day moving average price of $77.95.

NIKE (NYSE:NKE) last released 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 the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. Equities analysts predict that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.26%. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NKE. JPMorgan Chase & Co. lowered their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Wells Fargo & Company dropped their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, Barclays cut their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $89.96.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was purchased 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 approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

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.