Citizens Financial Group Inc. RI Sells 47,978 Shares of NIKE, Inc. (NYSE:NKE)

Citizens Financial Group Inc. RI lowered its position in NIKE, Inc. (NYSE:NKE) by 53.1% during the 4th quarter, Holdings Channel reports. The firm owned 42,298 shares of the footwear maker’s stock after selling 47,978 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in NIKE were worth $3,201,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Heck Capital Advisors LLC bought a new position in shares of NIKE during the 4th quarter worth $28,000. Caitlin John LLC grew its holdings in NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in NIKE during the 3rd quarter valued at about $30,000. Roxbury Financial LLC bought a new stake in shares of NIKE in the 4th quarter valued at about $30,000. Finally, BankPlus Trust Department bought a new stake in shares of NIKE in the 4th quarter valued at about $34,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Down 2.9 %

NYSE NKE opened at $74.21 on Wednesday. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $102.49. 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 company has a market capitalization of $109.76 billion, a PE ratio of 22.90, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a fifty day moving average of $74.77 and a 200 day moving average of $78.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data 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. 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 the consensus estimate of $12.11 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. The company’s revenue was down 7.7% compared to the same quarter last year. Research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid 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 2.16%. NIKE’s dividend payout ratio is currently 49.38%.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was acquired 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 of the company’s stock, valued at $2,636,989.95. This 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 hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on NKE shares. Barclays cut their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and cut their price target for the company from $102.00 to $72.00 in a report on Friday, February 7th. TD Cowen decreased their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. UBS Group reiterated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Finally, Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

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.