NIKE, Inc. (NYSE:NKE) Stake Lessened by Fagan Associates Inc.

Fagan Associates Inc. cut its stake in NIKE, Inc. (NYSE:NKE) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,626 shares of the footwear maker’s stock after selling 1,603 shares during the period. Fagan Associates Inc.’s holdings in NIKE were worth $4,588,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Alberta Investment Management Corp boosted its holdings in shares of NIKE by 54.6% in the fourth quarter. Alberta Investment Management Corp now owns 285,627 shares of the footwear maker’s stock valued at $21,613,000 after acquiring an additional 100,900 shares in the last quarter. Summit Place Financial Advisors LLC boosted its holdings in shares of NIKE by 29.8% in the fourth quarter. Summit Place Financial Advisors LLC now owns 32,505 shares of the footwear maker’s stock valued at $2,460,000 after acquiring an additional 7,465 shares in the last quarter. Vista Capital Partners Inc. boosted its holdings in shares of NIKE by 3.8% in the fourth quarter. Vista Capital Partners Inc. now owns 19,522 shares of the footwear maker’s stock valued at $1,477,000 after acquiring an additional 710 shares in the last quarter. Pegasus Asset Management Inc. boosted its holdings in shares of NIKE by 6.3% in the fourth quarter. Pegasus Asset Management Inc. now owns 29,762 shares of the footwear maker’s stock valued at $2,252,000 after acquiring an additional 1,752 shares in the last quarter. Finally, Bank of Jackson Hole Trust bought a new position in shares of NIKE in the fourth quarter valued at approximately $43,000. 64.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $84.00 target price on shares of NIKE in a report on Friday, February 7th. TD Cowen reduced their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Robert W. Baird reduced their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Finally, Barclays reduced their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.62.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John W. Rogers, Jr. bought 2,500 shares of the company’s 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 acquisition, 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 disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.

NIKE Stock Up 6.2 %

NIKE stock opened at $77.54 on Wednesday. The company has a market capitalization of $114.70 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.38 and a beta of 1.01. The firm’s fifty day simple moving average is $74.38 and its 200-day simple moving average is $78.07. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $106.62.

NIKE (NYSE:NKE) last released 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 net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. Sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.06%. NIKE’s dividend payout ratio is currently 49.38%.

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.