Investment House LLC lessened its stake in NIKE, Inc. (NYSE:NKE – Free Report) by 7.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,487 shares of the footwear maker’s stock after selling 6,134 shares during the quarter. Investment House LLC’s holdings in NIKE were worth $6,836,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meridian Wealth Management LLC raised its position in shares of NIKE by 67.2% in the 2nd quarter. Meridian Wealth Management LLC now owns 5,079 shares of the footwear maker’s stock valued at $561,000 after purchasing an additional 2,041 shares in the last quarter. Oliver Luxxe Assets LLC raised its position in shares of NIKE by 2.9% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock valued at $3,587,000 after purchasing an additional 1,041 shares in the last quarter. Dynamic Advisor Solutions LLC raised its position in shares of NIKE by 27.9% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 24,343 shares of the footwear maker’s stock valued at $2,687,000 after purchasing an additional 5,308 shares in the last quarter. Daymark Wealth Partners LLC raised its position in shares of NIKE by 883.4% in the 3rd quarter. Daymark Wealth Partners LLC now owns 109,538 shares of the footwear maker’s stock valued at $10,474,000 after purchasing an additional 98,399 shares in the last quarter. Finally, Peoples Financial Services CORP. raised its position in shares of NIKE by 6.2% in the 3rd quarter. Peoples Financial Services CORP. now owns 13,039 shares of the footwear maker’s stock valued at $1,247,000 after purchasing an additional 760 shares in the last quarter. Hedge funds and other institutional investors own 63.42% of the company’s stock.
Insider Activity
In other news, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $119.00, for a total value of $1,190,000.00. Following the completion of the sale, the executive vice president now directly owns 44,736 shares of the company’s stock, valued at $5,323,584. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.50% of the company’s stock.
NIKE Stock Up 0.7 %
NYSE NKE traded up $0.73 during trading hours on Friday, hitting $104.50. 5,449,022 shares of the company traded hands, compared to its average volume of 8,522,120. The business’s 50-day moving average is $108.07 and its 200-day moving average is $104.42. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $128.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 2.74. The stock has a market capitalization of $159.04 billion, a price-to-earnings ratio of 30.56, a P/E/G ratio of 1.94 and a beta of 1.11.
NIKE (NYSE:NKE – Get Free Report) last issued its quarterly earnings results on Thursday, December 21st. The footwear maker reported $1.03 EPS for the quarter, beating the consensus estimate of $0.84 by $0.19. NIKE had a return on equity of 37.41% and a net margin of 10.28%. The firm had revenue of $13.40 billion during the quarter, compared to analysts’ expectations of $13.39 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts anticipate that NIKE, Inc. will post 3.57 earnings per share for the current year.
NIKE Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be given a $0.37 dividend. The ex-dividend date is Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.42%. NIKE’s payout ratio is 43.27%.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. Stifel Nicolaus dropped their price target on NIKE from $135.00 to $129.00 and set a “buy” rating on the stock in a research report on Friday, December 22nd. BMO Capital Markets raised their target price on NIKE from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Friday, December 22nd. Truist Financial raised their target price on NIKE from $107.00 to $111.00 and gave the company a “hold” rating in a research note on Thursday, December 28th. Raymond James raised their target price on NIKE from $121.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, December 19th. Finally, Citigroup raised NIKE from a “neutral” rating to a “buy” rating and raised their target price for the company from $100.00 to $135.00 in a research note on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $123.62.
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.