Waldron Private Wealth LLC Decreases Stake in NIKE, Inc. (NYSE:NKE)

Waldron Private Wealth LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 3.3% in the fourth quarter, Holdings Channel reports. The firm owned 7,826 shares of the footwear maker’s stock after selling 263 shares during the period. Waldron Private Wealth LLC’s holdings in NIKE were worth $595,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund lifted its position in NIKE by 625.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 76,900 shares of the footwear maker’s stock worth $5,796,000 after acquiring an additional 66,299 shares during the period. Centaurus Financial Inc. raised its stake in shares of NIKE by 180.8% in the second quarter. Centaurus Financial Inc. now owns 4,490 shares of the footwear maker’s stock worth $338,000 after purchasing an additional 2,891 shares during the last quarter. Czech National Bank lifted its holdings in shares of NIKE by 6.0% during the third quarter. Czech National Bank now owns 244,750 shares of the footwear maker’s stock worth $21,636,000 after purchasing an additional 13,918 shares during the period. Mirador Capital Partners LP boosted its position in NIKE by 18.1% in the third quarter. Mirador Capital Partners LP now owns 42,975 shares of the footwear maker’s stock valued at $3,799,000 after buying an additional 6,595 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in NIKE by 2.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 524,145 shares of the footwear maker’s stock worth $46,334,000 after buying an additional 12,020 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 1.9 %

Shares of NKE opened at $76.82 on Friday. The firm’s 50-day moving average is $75.60 and its two-hundred day moving average is $77.99. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43. 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 firm has a market capitalization of $113.62 billion, a P/E ratio of 23.71, a PEG ratio of 2.44 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 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%. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. On average, research analysts predict 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. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. 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 is 49.38%.

Analysts Set New Price Targets

NKE has been the topic of several recent research reports. Truist Financial dropped their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Morgan Stanley lowered their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Robert W. Baird reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Wells Fargo & Company lowered their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given 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 an average target price of $89.96.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value 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. This represents a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.