Norway Savings Bank Sells 3,678 Shares of NIKE, Inc. (NYSE:NKE)

Norway Savings Bank decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 25.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,664 shares of the footwear maker’s stock after selling 3,678 shares during the period. Norway Savings Bank’s holdings in NIKE were worth $807,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of NKE. Garrison Point Advisors LLC raised its position in NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after purchasing an additional 126 shares during the last quarter. Stephens Consulting LLC boosted its position in NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after buying an additional 128 shares during the last quarter. PSI Advisors LLC increased its stake in shares of NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after buying an additional 130 shares during the period. Chapin Davis Inc. raised its position in shares of NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after acquiring an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC boosted its holdings in NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after acquiring an additional 133 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NKE shares. Truist Financial dropped their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price target on shares of NIKE in a research report on Friday, December 20th. Stifel Nicolaus lowered their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. JPMorgan Chase & Co. lowered their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Finally, 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 note on Thursday, November 7th. Fifteen investment 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. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average target price of $89.58.

NIKE Stock Performance

Shares of NYSE NKE traded up $0.29 during mid-day trading on Tuesday, reaching $72.29. 7,654,054 shares of the company were exchanged, compared to its average volume of 10,835,797. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $107.43. The stock has a market capitalization of $108.39 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.89 and a beta of 1.02. The company’s 50-day simple moving average is $76.77 and its 200-day simple moving average is $78.93. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 earnings per share. As a group, research analysts predict 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 was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. 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 business’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by insiders.

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.