Dividend Assets Capital LLC Decreases Position in NIKE, Inc. (NYSE:NKE)

Dividend Assets Capital LLC trimmed its stake in NIKE, Inc. (NYSE:NKE) by 29.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,947 shares of the footwear maker’s stock after selling 29,492 shares during the period. Dividend Assets Capital LLC’s holdings in NIKE were worth $5,369,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Range Financial Group LLC bought a new position in NIKE during the fourth quarter valued at $642,000. Cacti Asset Management LLC bought a new position in NIKE during the 4th quarter valued at about $9,987,000. Capricorn Fund Managers Ltd bought a new position in NIKE during the 4th quarter valued at about $5,384,000. Klein Pavlis & Peasley Financial Inc. raised its position in NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC lifted its stake in NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Truist Financial cut their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Morgan Stanley cut their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. TD Cowen decreased their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Guggenheim restated a “buy” rating and issued a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Finally, BMO Capital Markets lifted their price objective on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

NIKE Price Performance

Shares of NKE stock opened at $76.50 on Friday. The stock’s 50-day moving average is $74.31 and its 200 day moving average is $78.09. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $106.62. 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 company has a market cap of $113.15 billion, a P/E ratio of 23.61, a PEG ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The company’s quarterly revenue was down 7.7% on a year-over-year basis. Research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.09%. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

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.