Kornitzer Capital Management Inc. KS Sells 7,874 Shares of NIKE, Inc. (NYSE:NKE)

Kornitzer Capital Management Inc. KS decreased its position in NIKE, Inc. (NYSE:NKE) by 40.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 11,365 shares of the footwear maker’s stock after selling 7,874 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in NIKE were worth $860,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of NKE. Garrison Point Advisors LLC lifted its holdings in shares of NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after purchasing an additional 126 shares in the last quarter. PSI Advisors LLC lifted its holdings in shares of NIKE by 26.3% in the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after purchasing an additional 130 shares in the last quarter. JNBA Financial Advisors lifted its holdings in shares of NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after purchasing an additional 131 shares in the last quarter. Frisch Financial Group Inc. lifted its holdings in shares of NIKE by 4.7% in the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after purchasing an additional 136 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its holdings in shares of NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after purchasing an additional 136 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $76.80 on Thursday. The stock has a market cap of $113.60 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 2.38 and a beta of 1.01. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $106.62. The stock has a fifty day moving average of $74.34 and a 200-day moving average of $78.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the company earned $1.03 earnings per share. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NKE shares. Morgan Stanley dropped their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price target on shares of NIKE in a research report on Friday, February 7th. JPMorgan Chase & Co. decreased their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

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.