First Financial Bank Trust Division lowered its position in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,092 shares of the footwear maker’s stock after selling 1,924 shares during the quarter. First Financial Bank Trust Division’s holdings in NIKE were worth $1,520,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in NKE. Teachers Insurance & Annuity Association of America bought a new position in NIKE in the 3rd quarter valued at $30,000. VitalStone Financial LLC boosted its position in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Dunhill Financial LLC raised its position in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in NIKE in the second quarter valued at about $48,000. Finally, Ecofi Investissements SA acquired a new stake in NIKE in the second quarter worth about $49,000. 64.25% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Stifel Nicolaus cut their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft reduced their price target on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Finally, Piper Sandler reissued a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.58.
Insider Transactions at NIKE
In other news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.
NIKE Price Performance
Shares of NKE stock traded down $2.00 during trading hours on Thursday, reaching $73.67. The company’s stock had a trading volume of 10,798,393 shares, compared to its average volume of 11,637,070. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $107.48. The firm’s 50 day simple moving average is $77.13 and its 200-day simple moving average is $79.50. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $110.46 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.89 and a beta of 1.02.
NIKE (NYSE:NKE – Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. 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 business earned $1.03 EPS. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. Sell-side analysts forecast that NIKE, Inc. will post 2.72 earnings per share for the current year.
NIKE Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.17%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is currently 49.38%.
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.
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