Claro Advisors LLC reduced its stake in NIKE, Inc. (NYSE:NKE – Free Report) by 12.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,490 shares of the footwear maker’s stock after selling 2,098 shares during the period. Claro Advisors LLC’s holdings in NIKE were worth $1,096,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of NKE. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE during the third quarter worth about $30,000. VitalStone Financial LLC boosted its stake in shares of NIKE by 52.6% in 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 during the last quarter. Dunhill Financial LLC boosted its stake in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares during the last quarter. Ecofi Investissements SA purchased a new stake in shares of NIKE in the second quarter worth about $49,000. Finally, Riverview Trust Co purchased a new stake in shares of NIKE in the third quarter worth about $52,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Bank of America lowered their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. TD Cowen lowered their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price target on shares of NIKE in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $72.00 to $90.00 in a research report on Friday. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.96.
NIKE Trading Up 1.5 %
NIKE stock traded up $1.08 during midday trading on Monday, hitting $72.28. 10,207,534 shares of the stock were exchanged, compared to its average volume of 11,955,796. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $107.43. The stock has a market capitalization of $106.91 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.89 and a beta of 1.02. The stock’s 50-day simple moving average is $76.29 and its 200 day simple moving average is $78.25. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.
NIKE (NYSE:NKE – Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate 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 10.60% and a return on equity of 39.84%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. On average, equities analysts anticipate that NIKE, Inc. will post 2.72 EPS for the current year.
NIKE Increases Dividend
The business also recently declared 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. The ex-dividend date was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. NIKE’s dividend payout ratio is 49.38%.
Insider Buying and Selling
In other news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.
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.
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