NIKE, Inc. (NYSE:NKE) Shares Sold by River Global Investors LLP

River Global Investors LLP trimmed its position in NIKE, Inc. (NYSE:NKE) by 45.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,246 shares of the footwear maker’s stock after selling 7,654 shares during the quarter. River Global Investors LLP’s holdings in NIKE were worth $700,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NKE. Range Financial Group LLC acquired a new stake in shares of NIKE during the 4th quarter worth about $642,000. Cacti Asset Management LLC acquired a new stake in shares of NIKE during the fourth quarter valued at about $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in shares of NIKE in the 4th quarter valued at approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after acquiring an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC boosted its position in shares of NIKE by 5,745.9% during the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 1.3 %

NIKE stock opened at $78.68 on Friday. The company has a market capitalization of $116.38 billion, a P/E ratio of 24.28, a PEG ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $102.49. The stock has a 50-day simple moving average of $74.76 and a 200-day simple moving average of $78.18.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating 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 36.99% and a net margin of 9.98%. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. Equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NKE shares. Wells Fargo & Company cut their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday. TD Cowen lowered their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Truist Financial cut their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Barclays reduced their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $89.77.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was 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 of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were bought 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 approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.

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.