NBW Capital LLC Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

NBW Capital LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 37.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,092 shares of the footwear maker’s stock after selling 23,894 shares during the period. NBW Capital LLC’s holdings in NIKE were worth $2,958,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NKE. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE in the 3rd quarter valued at approximately $30,000. Caitlin John LLC lifted its holdings in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in NIKE in the fourth quarter worth approximately $28,000. Roxbury Financial LLC acquired a new stake in NIKE during the fourth quarter worth $30,000. Finally, BankPlus Trust Department acquired a new stake in NIKE during the fourth quarter worth $34,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the topic of several recent analyst reports. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and decreased their price target for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Morgan Stanley decreased their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Truist Financial dropped their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 price target on shares of NIKE in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price objective on shares of NIKE in a research report on Friday, February 7th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average target price of $89.77.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the company’s 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 completion of the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, 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 disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

NIKE Trading Down 1.4 %

NYSE NKE opened at $78.29 on Tuesday. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $102.49. The firm has a 50 day moving average of $74.67 and a two-hundred day moving average of $78.29. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $115.80 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion during 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 company’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 earnings per share. As a group, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. NIKE’s payout ratio is currently 49.38%.

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.