Beacon Capital Management LLC Sells 158 Shares of NIKE, Inc. (NYSE:NKE)

Beacon Capital Management LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 20.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 609 shares of the footwear maker’s stock after selling 158 shares during the quarter. Beacon Capital Management LLC’s holdings in NIKE were worth $46,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NKE. Good Life Advisors LLC bought a new position in NIKE in the 3rd quarter valued at about $316,000. Stratos Wealth Advisors LLC increased its holdings in shares of NIKE by 6.7% during the third quarter. Stratos Wealth Advisors LLC now owns 8,104 shares of the footwear maker’s stock worth $716,000 after purchasing an additional 506 shares during the period. KMG Fiduciary Partners LLC increased its holdings in shares of NIKE by 1.0% during the third quarter. KMG Fiduciary Partners LLC now owns 15,115 shares of the footwear maker’s stock worth $1,336,000 after purchasing an additional 149 shares during the period. Blue Trust Inc. increased its holdings in shares of NIKE by 164.6% during the third quarter. Blue Trust Inc. now owns 11,955 shares of the footwear maker’s stock worth $1,057,000 after purchasing an additional 7,437 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of NIKE by 7.5% during the third quarter. Raymond James & Associates now owns 1,505,332 shares of the footwear maker’s stock worth $133,071,000 after purchasing an additional 105,093 shares during the period. 64.25% of the stock is owned by institutional investors.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated 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 acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Evercore ISI lowered their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. 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. BMO Capital Markets increased their price target on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Wells Fargo & Company reduced 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. Finally, Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Fifteen equities research 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.62.

NIKE Price Performance

NKE stock opened at $73.02 on Monday. The firm has a market cap of $108.00 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.34 and a beta of 1.01. 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, Inc. has a 12-month low of $68.62 and a 12-month high of $107.34. The company’s fifty day simple moving average is $74.46 and its 200 day simple moving average is $78.03.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 9.98% and a return on equity of 36.99%. NIKE’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. On average, analysts expect that NIKE, Inc. will post 2.05 earnings per share 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 issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.19%. NIKE’s payout ratio is 49.38%.

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.