Means Investment CO. Inc. Sells 1,958 Shares of NIKE, Inc. (NYSE:NKE)

Means Investment CO. Inc. reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 10.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,790 shares of the footwear maker’s stock after selling 1,958 shares during the quarter. Means Investment CO. Inc.’s holdings in NIKE were worth $1,270,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NKE. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE during the 3rd quarter valued at approximately $30,000. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the fourth quarter worth $28,000. VitalStone Financial LLC increased its holdings in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Dunhill Financial LLC lifted its stake in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after acquiring an additional 169 shares during the last quarter. Finally, Riverview Trust Co acquired a new stake in shares of NIKE during the 3rd quarter valued at $52,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Down 1.9 %

NIKE stock opened at $76.82 on Monday. NIKE, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm’s 50-day simple moving average is $75.60 and its 200 day simple moving average is $78.03. The stock has a market cap of $113.62 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its 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 firm had revenue of $12.35 billion for 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 revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 EPS. Research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s payout ratio is presently 49.38%.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on NKE. Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and cut their price target for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Stifel Nicolaus reduced their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Morgan Stanley dropped their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Truist Financial reduced their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Wells Fargo & Company cut their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $89.96.

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.