LGT Fund Management Co Ltd. Sells 122,700 Shares of NIKE, Inc. (NYSE:NKE)

LGT Fund Management Co Ltd. trimmed its position in NIKE, Inc. (NYSE:NKE) by 79.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 31,150 shares of the footwear maker’s stock after selling 122,700 shares during the period. LGT Fund Management Co Ltd.’s holdings in NIKE were worth $2,357,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Heck Capital Advisors LLC bought a new position in NIKE during the 4th quarter worth $28,000. Caitlin John LLC raised its position 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 purchasing an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new position in NIKE during the 3rd quarter worth $30,000. Roxbury Financial LLC bought a new position in NIKE during the 4th quarter worth $30,000. Finally, BankPlus Trust Department bought a new position in NIKE during the 4th quarter worth $34,000. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on 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 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 position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

NIKE Price Performance

NKE stock opened at $79.43 on Monday. The company has a market capitalization of $117.49 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $105.57. The business has a 50-day simple moving average of $74.64 and a two-hundred day simple moving average of $78.32.

NIKE (NYSE:NKE) last released its quarterly earnings results 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. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 EPS. Research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared 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 is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.01%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Analyst Ratings Changes

Several research analysts recently issued reports on NKE shares. Royal Bank of Canada lowered their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Wells Fargo & Company lowered their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. UBS Group reissued a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th. Finally, Stifel Nicolaus lowered 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 given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

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.