NIKE, Inc. (NYSE:NKE) Shares Sold by SouthState Corp

SouthState Corp reduced its position in NIKE, Inc. (NYSE:NKE) by 20.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 43,457 shares of the footwear maker’s stock after selling 11,187 shares during the quarter. SouthState Corp’s holdings in NIKE were worth $3,288,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of NKE. Heck Capital Advisors LLC acquired a new position in NIKE in the 4th quarter valued at $28,000. Caitlin John LLC increased its stake in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares during the period. Teachers Insurance & Annuity Association of America acquired a new position in NIKE in the 3rd quarter valued at $30,000. Roxbury Financial LLC acquired a new position in NIKE in the 4th quarter valued at $30,000. Finally, LFA Lugano Financial Advisors SA increased its stake in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after buying an additional 210 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NKE. UBS Group reaffirmed a “neutral” rating and set a $73.00 price target on shares of NIKE in a research note on Thursday, December 26th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Stifel Nicolaus lowered their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Finally, Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.69.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was 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 trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, 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. Insiders own 1.10% of the company’s stock.

NIKE Trading Down 1.3 %

Shares of NKE stock opened at $71.72 on Monday. The firm has a market cap of $106.08 billion, a P/E ratio of 22.14, 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 $101.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm’s 50-day simple moving average is $74.68 and its 200-day simple moving average is $77.77.

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

NIKE Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.23%. NIKE’s payout ratio is currently 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.