NIKE, Inc. (NYSE:NKE) Shares Sold by Naviter Wealth LLC

Naviter Wealth LLC trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 76.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,054 shares of the footwear maker’s stock after selling 9,740 shares during the quarter. Naviter Wealth LLC’s holdings in NIKE were worth $232,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Heck Capital Advisors LLC purchased a new stake in NIKE during the 4th quarter worth about $28,000. Caitlin John LLC raised its position in shares of 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 stake in NIKE during the third quarter worth approximately $30,000. Roxbury Financial LLC acquired a new position in NIKE in the fourth quarter valued at approximately $30,000. Finally, BankPlus Trust Department purchased a new position in NIKE in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’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 purchase, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NKE shares. Robert W. Baird reduced their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $72.00 to $90.00 in a report on Friday, January 10th. Evercore ISI dropped their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Wells Fargo & Company reduced their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Finally, DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Trading Up 1.3 %

NYSE:NKE opened at $78.68 on Monday. 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 quick ratio of 1.51 and a current ratio of 2.22. The stock has a fifty day moving average price of $74.76 and a two-hundred day moving average price of $78.14. The stock has a market capitalization of $116.38 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last announced 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 net margin of 9.98% and a return on equity of 36.99%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. NIKE’s payout ratio is 49.38%.

About NIKE

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.