Court Place Advisors LLC Sells 399 Shares of NIKE, Inc. (NYSE:NKE)

Court Place Advisors LLC trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,543 shares of the footwear maker’s stock after selling 399 shares during the period. Court Place Advisors LLC’s holdings in NIKE were worth $646,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NKE. Nilsine Partners LLC lifted its stake in shares of NIKE by 3.5% in the 4th quarter. Nilsine Partners LLC now owns 17,046 shares of the footwear maker’s stock valued at $1,290,000 after purchasing an additional 571 shares during the period. Foundations Investment Advisors LLC increased its holdings in NIKE by 10.6% in the fourth quarter. Foundations Investment Advisors LLC now owns 5,314 shares of the footwear maker’s stock valued at $402,000 after purchasing an additional 510 shares during the last quarter. Pacer Advisors Inc. lifted its stake in NIKE by 6,029.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after buying an additional 6,709,985 shares during the period. Union Bancaire Privee UBP SA bought a new position in NIKE during the fourth quarter worth about $496,000. Finally, Capital Asset Advisory Services LLC acquired a new position in shares of NIKE during the 4th quarter worth about $321,000. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NKE opened at $75.69 on Tuesday. The business’s 50-day simple moving average is $75.45 and its 200 day simple moving average is $77.94. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market capitalization of $111.96 billion, a PE ratio of 23.36, a PEG ratio of 2.36 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings results 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 firm 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 business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 EPS. As a group, sell-side analysts expect that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio is 49.38%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. 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 research report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and set a $84.00 price target on shares of NIKE in a research report on Friday, December 20th. Morgan Stanley decreased their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.96.

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.