Naviter Wealth LLC Trims Stock Holdings in NIKE, Inc. (NYSE:NKE)

Naviter Wealth LLC decreased its position in NIKE, Inc. (NYSE:NKE) by 76.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,054 shares of the footwear maker’s stock after selling 9,740 shares during the quarter. Naviter Wealth LLC’s holdings in NIKE were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marble Harbor Investment Counsel LLC boosted its holdings in shares of NIKE by 60.3% during the fourth quarter. Marble Harbor Investment Counsel LLC now owns 18,010 shares of the footwear maker’s stock worth $1,363,000 after purchasing an additional 6,775 shares during the last quarter. Intellectus Partners LLC lifted its position in NIKE by 6.6% during the fourth quarter. Intellectus Partners LLC now owns 12,465 shares of the footwear maker’s stock worth $948,000 after buying an additional 767 shares during the period. Larson Financial Group LLC boosted its stake in NIKE by 19.2% in the 4th quarter. Larson Financial Group LLC now owns 13,556 shares of the footwear maker’s stock worth $1,026,000 after buying an additional 2,179 shares during the last quarter. Arjuna Capital grew its holdings in NIKE by 154.3% in the 4th quarter. Arjuna Capital now owns 7,394 shares of the footwear maker’s stock valued at $560,000 after buying an additional 4,486 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of NIKE during the 4th quarter valued at about $1,854,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Up 1.3 %

Shares of NYSE NKE opened at $78.68 on Monday. The firm has a market cap of $116.38 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $102.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock’s 50-day simple moving average is $74.76 and its 200-day simple moving average is $78.14.

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, 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 company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the company posted $1.03 EPS. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared 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 2.03%. NIKE’s payout ratio is 49.38%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction 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 $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Robert W. Baird decreased their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Guggenheim reiterated a “buy” rating and issued a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Truist Financial cut their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and boosted their price target for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.77.

NIKE Company 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.