Moloney Securities Asset Management LLC Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Moloney Securities Asset Management LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 31.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,140 shares of the footwear maker’s stock after selling 2,404 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in NIKE were worth $389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Farmers & Merchants Investments Inc. lifted its stake in NIKE by 1.3% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 196,586 shares of the footwear maker’s stock valued at $14,876,000 after acquiring an additional 2,485 shares during the period. Apollon Wealth Management LLC lifted its position in NIKE by 5.2% during 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 during the period. Beaumont Asset Management L.L.C. acquired a new position in NIKE during the fourth quarter valued at $654,000. Vest Financial LLC grew its position in NIKE by 36.9% during the 4th quarter. Vest Financial LLC now owns 443,570 shares of the footwear maker’s stock worth $33,565,000 after purchasing an additional 119,449 shares during the period. Finally, Cidel Asset Management Inc. grew its position in NIKE by 14.6% during the 4th quarter. Cidel Asset Management Inc. now owns 6,465 shares of the footwear maker’s stock worth $489,000 after purchasing an additional 822 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 3.2 %

Shares of NYSE NKE opened at $70.90 on Tuesday. The stock has a market cap of $104.88 billion, a PE ratio of 21.88, a P/E/G ratio of 2.34 and a beta of 1.01. 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 12-month low of $68.62 and a 12-month high of $107.43. The company has a 50-day moving average of $75.12 and a 200 day moving average of $78.09.

NIKE (NYSE:NKE) last posted 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 return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the business earned $1.03 earnings per share. The business’s revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

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

Analysts Set New Price Targets

NKE has been the topic of a number of recent research reports. DA Davidson upgraded NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Truist Financial lowered their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Stifel Nicolaus cut their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. TD Cowen lowered their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Finally, Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $72.00 to $90.00 in a report on Friday, January 10th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

Insider Activity

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.