First Business Financial Services Inc. Sells 165 Shares of NIKE, Inc. (NYSE:NKE)

First Business Financial Services Inc. reduced its stake in NIKE, Inc. (NYSE:NKE) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,522 shares of the footwear maker’s stock after selling 165 shares during the quarter. First Business Financial Services Inc.’s holdings in NIKE were worth $267,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its position in NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after acquiring an additional 6,709,985 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after acquiring an additional 6,507,856 shares in the last quarter. Bank of New York Mellon Corp lifted its position in NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after acquiring an additional 3,121,929 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in NIKE by 358.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after acquiring an additional 2,357,745 shares in the last quarter. Finally, State Street Corp lifted its position in NIKE by 3.3% in 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 acquiring an additional 1,862,021 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Up 0.6 %

NKE opened at $77.76 on Thursday. The firm has a 50-day simple moving average of $74.70 and a two-hundred day simple moving average of $78.25. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $102.49. The company has a market capitalization of $115.01 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. 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 (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. 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 the consensus estimate of $12.11 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The business’s revenue was down 7.7% on a year-over-year basis. Analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Buying and Selling at NIKE

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NKE shares. Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and decreased their target price for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Truist Financial decreased their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company decreased their target price 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. Finally, DA Davidson upgraded NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.77.

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.