Howland Capital Management LLC Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Howland Capital Management LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 12.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,079 shares of the footwear maker’s stock after selling 877 shares during the quarter. Howland Capital Management LLC’s holdings in NIKE were worth $462,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp raised its stake in shares of NIKE by 3.3% in the third 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 period. Wellington Management Group LLP raised its position in NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after purchasing an additional 1,343,093 shares during the period. Geode Capital Management LLC lifted its stake in NIKE by 1.0% in the third 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 last quarter. Fisher Asset Management LLC boosted its position in shares of NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after buying an additional 583,207 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of NIKE by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after buying an additional 117,187 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 4.3 %

Shares of NKE stock opened at $68.69 on Monday. The stock’s fifty day moving average price is $75.12 and its 200 day moving average price is $78.04. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $107.43. The company has a market cap of $101.60 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. 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 issued its quarterly 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 business had revenue of $12.35 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. On average, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.33%. NIKE’s dividend payout ratio is presently 49.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Robert W. Baird decreased their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Wells Fargo & Company cut their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. TD Cowen lowered their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $80.00 target price on shares of NIKE in a research note on Thursday. 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were 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 in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate 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.