W.G. Shaheen & Associates DBA Whitney & Co Has $7.02 Million Holdings in NIKE, Inc. (NYSE:NKE)

W.G. Shaheen & Associates DBA Whitney & Co lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 17.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 92,800 shares of the footwear maker’s stock after selling 19,883 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in NIKE were worth $7,022,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Legacy Wealth Asset Management LLC boosted its holdings in NIKE by 4.5% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 4,418 shares of the footwear maker’s stock worth $391,000 after acquiring an additional 191 shares during the last quarter. Allworth Financial LP grew its position in NIKE by 20.9% in the 3rd quarter. Allworth Financial LP now owns 12,431 shares of the footwear maker’s stock worth $1,099,000 after purchasing an additional 2,148 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in NIKE by 126.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 172,074 shares of the footwear maker’s stock valued at $15,390,000 after buying an additional 96,027 shares during the last quarter. Arkadios Wealth Advisors lifted its position in shares of NIKE by 10.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 20,816 shares of the footwear maker’s stock worth $1,840,000 after buying an additional 2,009 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its stake in shares of NIKE by 12.8% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,378 shares of the footwear maker’s stock worth $299,000 after buying an additional 383 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent analyst reports. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $72.00 to $90.00 in a report on Friday, January 10th. DA Davidson upgraded NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. UBS Group restated a “neutral” rating and set a $73.00 price target on shares of NIKE in a research report on Thursday, December 26th. Wells Fargo & Company lowered their price objective 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. Finally, Evercore ISI reduced their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

Insider Activity at NIKE

In related news, 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 price 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 approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated 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 owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

NIKE Trading Down 0.9 %

Shares of NIKE stock opened at $76.50 on Monday. The company has a 50 day simple moving average of $74.31 and a two-hundred day simple moving average of $78.16. The firm has a market cap of $113.15 billion, a PE ratio of 23.61, a PEG ratio of 2.52 and a beta of 1.01. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $106.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. Analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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

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.