Associated Banc Corp Has $3.97 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Associated Banc Corp reduced its position in NIKE, Inc. (NYSE:NKE) by 18.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 52,474 shares of the footwear maker’s stock after selling 11,780 shares during the period. Associated Banc Corp’s holdings in NIKE were worth $3,971,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Harbour Investments Inc. raised its holdings in NIKE by 6.6% in the 3rd quarter. Harbour Investments Inc. now owns 5,749 shares of the footwear maker’s stock valued at $508,000 after acquiring an additional 357 shares during the period. Curi RMB Capital LLC raised its holdings in NIKE by 9.6% in the 3rd quarter. Curi RMB Capital LLC now owns 6,765 shares of the footwear maker’s stock valued at $598,000 after acquiring an additional 591 shares during the period. OneDigital Investment Advisors LLC raised its holdings in NIKE by 7.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 16,792 shares of the footwear maker’s stock valued at $1,484,000 after acquiring an additional 1,217 shares during the period. CIBC Asset Management Inc raised its holdings in NIKE by 7.1% in the 3rd quarter. CIBC Asset Management Inc now owns 185,320 shares of the footwear maker’s stock valued at $16,382,000 after acquiring an additional 12,351 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its holdings in NIKE by 5.8% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 11,852 shares of the footwear maker’s stock valued at $1,048,000 after acquiring an additional 646 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.

NIKE Price Performance

Shares of NYSE NKE opened at $71.72 on Friday. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $101.92. The firm has a fifty day simple moving average of $74.68 and a 200 day simple moving average of $77.81. The company has a market capitalization of $106.08 billion, a PE ratio of 22.14, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter last year, the firm earned $1.03 earnings per share. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. On average, sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is presently 49.38%.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 target price on shares of NIKE in a report on Friday, February 7th. TD Cowen lowered their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Robert W. Baird lowered their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Finally, Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $89.69.

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.