Clarity Financial LLC Has $297,000 Stake in NIKE, Inc. (NYSE:NKE)

Clarity Financial LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 9.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,928 shares of the footwear maker’s stock after selling 390 shares during the period. Clarity Financial LLC’s holdings in NIKE were worth $297,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SOL Capital Management CO raised its position in NIKE by 5.1% in the 4th quarter. SOL Capital Management CO now owns 6,071 shares of the footwear maker’s stock valued at $459,000 after buying an additional 295 shares during the last quarter. Crews Bank & Trust purchased a new stake in shares of NIKE in the fourth quarter valued at about $623,000. Capital Investment Advisory Services LLC lifted its position in shares of NIKE by 22.6% during the fourth quarter. Capital Investment Advisory Services LLC now owns 5,835 shares of the footwear maker’s stock valued at $442,000 after purchasing an additional 1,077 shares in the last quarter. Busey Bank boosted its holdings in NIKE by 0.8% during the fourth quarter. Busey Bank now owns 216,054 shares of the footwear maker’s stock worth $16,349,000 after purchasing an additional 1,660 shares during the last quarter. Finally, DMC Group LLC bought a new stake in NIKE in the 4th quarter worth about $231,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NIKE stock opened at $78.28 on Friday. The firm’s 50 day simple moving average is $75.55 and its 200 day simple moving average is $77.95. 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, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The firm has a market capitalization of $115.79 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 2.44 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 earnings per share. As a group, analysts expect that NIKE, Inc. will post 2.09 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred 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 transaction, the director now 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. UBS Group reissued a “neutral” rating and set a $73.00 target price on shares of NIKE in a research report on Thursday, December 26th. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Truist Financial reduced their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Stifel Nicolaus lowered their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned 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 a consensus target price of $89.96.

NIKE Company 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.