NIKE, Inc. (NYSE:NKE) Shares Sold by ING Groep NV

ING Groep NV cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 45.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 182,330 shares of the footwear maker’s stock after selling 152,833 shares during the period. ING Groep NV’s holdings in NIKE were worth $13,797,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NKE. Heck Capital Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter valued at about $28,000. Caitlin John LLC raised its position in shares of NIKE by 117.0% in the fourth 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 last quarter. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE in the third quarter valued at about $30,000. Roxbury Financial LLC acquired a new stake in shares of NIKE in the fourth quarter valued at about $30,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of NIKE in the fourth quarter valued at about $43,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Up 0.5 %

NYSE NKE opened at $77.19 on Friday. The firm has a 50 day simple moving average of $74.33 and a 200-day simple moving average of $78.05. 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, Inc. has a one year low of $68.62 and a one year high of $106.62. The firm has a market cap of $114.17 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 2.53 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating 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 business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the firm posted $1.03 earnings per share. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.07%. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The shares were purchased 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 directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on 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 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. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NKE has been the subject of a number of recent research reports. Morgan Stanley reduced their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company 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 for the company in a research report on Monday, December 16th. TD Cowen dropped their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a report on Wednesday. Finally, Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $72.00 to $90.00 in a report on Friday, January 10th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $88.62.

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.