Moloney Securities Asset Management LLC Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Moloney Securities Asset Management LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 31.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,140 shares of the footwear maker’s stock after selling 2,404 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in NIKE were worth $389,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. State Street Corp lifted its holdings in shares of NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after purchasing an additional 251,411 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after purchasing an additional 583,207 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of NIKE by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after purchasing an additional 117,187 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft dropped their target price on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Finally, Morgan Stanley reduced their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.62.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now directly 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 legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

NIKE Price Performance

NKE opened at $70.90 on Tuesday. The firm has a market capitalization of $104.88 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. The business’s 50-day moving average is $75.12 and its two-hundred day moving average is $78.09. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS. Research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

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.