NIKE, Inc. (NYSE:NKE) Shares Sold by Good Life Advisors LLC

Good Life Advisors LLC trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 16.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,996 shares of the footwear maker’s stock after selling 574 shares during the period. Good Life Advisors LLC’s holdings in NIKE were worth $227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Foundations Investment Advisors LLC lifted its position in NIKE by 26.5% during the third quarter. Foundations Investment Advisors LLC now owns 4,804 shares of the footwear maker’s stock valued at $425,000 after buying an additional 1,006 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of NIKE by 2.9% during the third quarter. Private Advisor Group LLC now owns 75,274 shares of the footwear maker’s stock worth $6,654,000 after purchasing an additional 2,108 shares in the last quarter. McAdam LLC lifted its position in shares of NIKE by 6.3% during the third quarter. McAdam LLC now owns 2,852 shares of the footwear maker’s stock worth $252,000 after purchasing an additional 169 shares in the last quarter. PSI Advisors LLC lifted its position in shares of NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares in the last quarter. Finally, HT Partners LLC acquired a new position in shares of NIKE during the third quarter worth $226,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NKE. Truist Financial reduced their target price 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. Wells Fargo & Company reduced their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Evercore ISI reduced their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. TD Cowen reduced their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Fifteen equities research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.62.

NIKE Stock Performance

Shares of NKE stock opened at $76.50 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average of $74.31 and a two-hundred day moving average of $78.09. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $106.62. The company has a market cap of $113.15 billion, a P/E ratio of 23.61, a PEG ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during 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 firm posted $1.03 earnings per share. As a group, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

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.