Pine Valley Investments Ltd Liability Co Lowers Stock Position in NIKE, Inc. (NYSE:NKE)

Pine Valley Investments Ltd Liability Co lessened its holdings in NIKE, Inc. (NYSE:NKE) by 14.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 22,058 shares of the footwear maker’s stock after selling 3,717 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in NIKE were worth $1,671,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE in the 3rd quarter worth approximately $30,000. Caitlin John LLC lifted its position in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter worth approximately $28,000. Roxbury Financial LLC purchased a new stake in shares of NIKE in the 4th quarter worth approximately $30,000. Finally, BankPlus Trust Department purchased a new stake in NIKE during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE NKE opened at $81.91 on Wednesday. The stock has a market capitalization of $121.15 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 2.52 and a beta of 1.01. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $106.10. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average of $74.45 and a 200 day moving average of $78.26.

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, topping analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid 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 yield of 1.95%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NKE shares. BMO Capital Markets increased their target price on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and increased their target price for the company from $75.00 to $115.00 in a research report on Monday. Truist Financial decreased their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Robert W. Baird decreased their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Finally, Bank of America decreased their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $89.77.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company’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 value 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 trade 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 owned by company 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.