Romano Brothers AND Company Has $440,000 Holdings in NIKE, Inc. (NYSE:NKE)

Romano Brothers AND Company decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 25.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,821 shares of the footwear maker’s stock after selling 1,993 shares during the period. Romano Brothers AND Company’s holdings in NIKE were worth $440,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Clarius Group LLC raised its position in shares of NIKE by 6.0% in the 4th quarter. Clarius Group LLC now owns 8,054 shares of the footwear maker’s stock valued at $609,000 after acquiring an additional 457 shares during the period. Aaron Wealth Advisors LLC increased its stake in NIKE by 12.4% in the fourth quarter. Aaron Wealth Advisors LLC now owns 4,474 shares of the footwear maker’s stock valued at $339,000 after purchasing an additional 492 shares in the last quarter. Moss Adams Wealth Advisors LLC raised its holdings in NIKE by 14.2% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 5,180 shares of the footwear maker’s stock worth $394,000 after purchasing an additional 645 shares during the period. Premier Path Wealth Partners LLC boosted its position in shares of NIKE by 5.8% during the fourth quarter. Premier Path Wealth Partners LLC now owns 21,738 shares of the footwear maker’s stock worth $1,645,000 after purchasing an additional 1,201 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. grew its holdings in shares of NIKE by 5.7% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 150,864 shares of the footwear maker’s stock valued at $11,416,000 after buying an additional 8,102 shares during the period. 64.25% of the stock is owned by institutional investors.

Insider Activity

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Wells Fargo & Company reduced their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $93.00 to $80.00 in a report on Friday, December 20th. Finally, Barclays reduced their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Fourteen equities research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Stock Down 0.3 %

Shares of NKE stock opened at $70.89 on Monday. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. The stock has a market cap of $104.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.26 and a beta of 1.02. The firm’s 50-day moving average is $75.77 and its 200-day moving average is $77.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm posted $1.03 earnings per share. Sell-side analysts predict that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Monday, December 2nd. NIKE’s payout ratio is currently 49.38%.

NIKE 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.