United Services Automobile Association Lowers Holdings in NIKE, Inc. (NYSE:NKE)

United Services Automobile Association lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,057 shares of the footwear maker’s stock after selling 859 shares during the quarter. United Services Automobile Association’s holdings in NIKE were worth $2,123,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mountain Hill Investment Partners Corp. purchased a new position in NIKE during the fourth quarter valued at $84,000. Stevens Capital Management LP purchased a new position in shares of NIKE during the fourth quarter valued at about $2,353,000. Banco de Sabadell S.A increased its holdings in shares of NIKE by 1.2% in the fourth quarter. Banco de Sabadell S.A now owns 15,966 shares of the footwear maker’s stock worth $1,208,000 after purchasing an additional 188 shares during the last quarter. Guardian Partners Inc. purchased a new stake in shares of NIKE in the fourth quarter worth about $5,250,000. Finally, KLP Kapitalforvaltning AS bought a new position in NIKE during the fourth quarter valued at approximately $35,560,000. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on NKE. DA Davidson raised shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Barclays dropped their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Telsey Advisory Group restated a “market perform” rating and set a $80.00 target price on shares of NIKE in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Finally, Truist Financial lowered their price objective on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Friday. Fifteen research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm’s 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 owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now 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 position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.

NIKE Stock Performance

NYSE:NKE opened at $68.02 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a market cap of $100.60 billion, a PE ratio of 20.99, a P/E/G ratio of 2.52 and a beta of 1.02. The firm has a 50 day simple moving average of $74.70 and a 200-day simple moving average of $77.40. NIKE, Inc. has a 1-year low of $65.17 and a 1-year high of $98.04.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. On average, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.35%. NIKE’s dividend payout ratio is currently 53.16%.

NIKE 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.