Windsor Capital Management LLC Cuts Holdings in NIKE, Inc. (NYSE:NKE)

Windsor Capital Management LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 15.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,573 shares of the footwear maker’s stock after selling 831 shares during the period. Windsor Capital Management LLC’s holdings in NIKE were worth $346,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC grew its holdings in shares of NIKE by 5.2% in the fourth quarter. Apollon Wealth Management LLC now owns 24,218 shares of the footwear maker’s stock valued at $1,833,000 after purchasing an additional 1,203 shares in the last quarter. Beaumont Asset Management L.L.C. bought a new position in NIKE during the fourth quarter valued at $654,000. Vest Financial LLC grew its stake in shares of NIKE by 36.9% in the 4th quarter. Vest Financial LLC now owns 443,570 shares of the footwear maker’s stock worth $33,565,000 after buying an additional 119,449 shares in the last quarter. Cidel Asset Management Inc. increased its holdings in shares of NIKE by 14.6% in the 4th quarter. Cidel Asset Management Inc. now owns 6,465 shares of the footwear maker’s stock worth $489,000 after buying an additional 822 shares during the last quarter. Finally, Conning Inc. raised its position in shares of NIKE by 7.3% during the 4th quarter. Conning Inc. now owns 67,663 shares of the footwear maker’s stock valued at $5,120,000 after buying an additional 4,630 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Bank of America decreased their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Stifel Nicolaus dropped their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Barclays reduced their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. TD Cowen dropped their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Finally, Truist Financial reduced their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.62.

NIKE Price Performance

Shares of NKE stock opened at $68.69 on Friday. The stock’s 50-day moving average is $75.32 and its 200 day moving average is $78.05. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $107.43. 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 cap of $101.60 billion, a P/E ratio of 21.20, a PEG ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same period last year, the business earned $1.03 EPS. Research analysts predict that NIKE, Inc. will post 2.05 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 $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.33%. The ex-dividend date was Monday, December 2nd. NIKE’s payout ratio is currently 49.38%.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on 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 purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.