NIKE, Inc. (NYSE:NKE) Position Trimmed by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC reduced its holdings in NIKE, Inc. (NYSE:NKE) by 22.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 23,086 shares of the footwear maker’s stock after selling 6,654 shares during the quarter. Crestwood Advisors Group LLC’s holdings in NIKE were worth $1,747,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE during the third quarter worth about $30,000. Caitlin John LLC grew its holdings in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of NIKE during the 4th quarter worth approximately $28,000. Roxbury Financial LLC bought a new stake in shares of NIKE in the 4th quarter worth approximately $30,000. Finally, Dunhill Financial LLC boosted its position in NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

NKE opened at $80.32 on Tuesday. 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 firm has a market cap of $118.80 billion, a PE ratio of 24.79, a P/E/G ratio of 2.52 and a beta of 1.01. The business has a fifty day simple moving average of $74.37 and a 200-day simple moving average of $78.21. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $106.10.

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

NIKE Announces Dividend

The company 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 is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.99%. NIKE’s dividend payout ratio is currently 49.38%.

Wall Street Analyst Weigh In

NKE has been the topic of several analyst reports. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Evercore ISI cut their price objective 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. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Telsey Advisory Group restated a “market perform” rating and issued a $80.00 price target on shares of NIKE in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus reduced their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $89.77.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly 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 document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of 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. 1.10% of the stock is owned by insiders.

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.