WoodTrust Financial Corp Sells 7,798 Shares of NIKE, Inc. (NYSE:NKE)

WoodTrust Financial Corp cut its position in NIKE, Inc. (NYSE:NKE) by 7.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 90,491 shares of the footwear maker’s stock after selling 7,798 shares during the period. NIKE makes up about 1.0% of WoodTrust Financial Corp’s investment portfolio, making the stock its 28th largest holding. WoodTrust Financial Corp’s holdings in NIKE were worth $6,847,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings 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 worth $516,166,000 after acquiring an additional 6,709,985 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in shares of NIKE by 1,209,638.7% in the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after purchasing an additional 6,507,856 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of NIKE by 18.1% during the fourth 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 purchasing an additional 3,121,929 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of NIKE by 358.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after buying an additional 2,357,745 shares during the last quarter. Finally, State Street Corp increased its holdings in NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after buying an additional 1,862,021 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 1.3 %

Shares of NKE opened at $77.36 on Wednesday. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $102.49. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $114.43 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. The business’s 50 day moving average is $74.68 and its 200 day moving average is $78.25.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm 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%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Research analysts expect 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 2.07%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Analysts Set New Price Targets

NKE has been the topic of a number of recent analyst reports. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and raised their price target for the company from $72.00 to $90.00 in a report on Friday, January 10th. Bank of America cut their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and increased their price target for the company from $75.00 to $115.00 in a report on Monday, February 24th. Guggenheim reaffirmed a “buy” rating and issued a $110.00 price objective on shares of NIKE in a report on Wednesday, February 12th. Finally, Morgan Stanley lowered their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was 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 owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $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. 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.