NIKE, Inc. (NYSE:NKE) Shares Sold by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 11.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,552 shares of the footwear maker’s stock after selling 1,697 shares during the period. Baker Ellis Asset Management LLC’s holdings in NIKE were worth $950,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP lifted its position in NIKE by 5.1% in the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after purchasing an additional 1,343,093 shares during the period. Geode Capital Management LLC lifted its position in NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after purchasing an additional 251,411 shares during the period. Legal & General Group Plc lifted its position in NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after purchasing an additional 571,544 shares during the period. Finally, Fisher Asset Management LLC lifted its position in NIKE by 6.0% in the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after purchasing an additional 583,207 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Up 1.2 %

NIKE stock opened at $74.07 on Thursday. 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 capitalization of $109.56 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 2.33 and a beta of 1.02. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43. The company’s fifty day moving average price is $75.59 and its two-hundred day moving average price is $77.91.

NIKE (NYSE:NKE) last released its quarterly earnings results 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio is 49.38%.

Insider Buying and Selling at NIKE

In other 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 acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NKE shares. Morgan Stanley cut their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Jefferies Financial Group increased their price objective on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Bank of America cut their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.96.

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.