NIKE, Inc. (NYSE:NKE) Shares Sold by JLB & Associates Inc.

JLB & Associates Inc. reduced its position in NIKE, Inc. (NYSE:NKE) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 63,439 shares of the footwear maker’s stock after selling 2,600 shares during the period. JLB & Associates Inc.’s holdings in NIKE were worth $4,800,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in NIKE by 187.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 323,993 shares of the footwear maker’s stock valued at $28,641,000 after purchasing an additional 211,461 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of NIKE by 26.5% during the 3rd quarter. Foundations Investment Advisors LLC now owns 4,804 shares of the footwear maker’s stock valued at $425,000 after buying an additional 1,006 shares during the last quarter. Private Advisor Group LLC grew its position in shares of NIKE by 2.9% during the third quarter. Private Advisor Group LLC now owns 75,274 shares of the footwear maker’s stock worth $6,654,000 after buying an additional 2,108 shares in the last quarter. Elevated Capital Advisors LLC bought a new stake in shares of NIKE in the third quarter worth $226,000. Finally, Wallington Asset Management LLC bought a new stake in shares of NIKE in the third quarter worth $230,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on NKE shares. Evercore ISI decreased their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 price target on shares of NIKE in a research report on Wednesday. TD Cowen lowered their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $84.00 target price on shares of NIKE in a research report on Friday, February 7th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $88.62.

NIKE Stock Up 0.5 %

NIKE stock opened at $77.19 on Friday. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $106.62. The stock has a market cap of $114.17 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 2.50 and a beta of 1.01. The company’s 50-day moving average price is $74.33 and its two-hundred day moving average price is $78.05. 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 (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (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 analysts’ expectations of $12.11 billion. During the same period last year, the firm posted $1.03 earnings per share. The business’s revenue was down 7.7% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on 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 sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.