Lyell Wealth Management LP Decreases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Lyell Wealth Management LP lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 13.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,140 shares of the footwear maker’s stock after selling 7,854 shares during the quarter. Lyell Wealth Management LP’s holdings in NIKE were worth $3,718,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on NKE shares. Needham & Company LLC reissued a “buy” rating and set a $84.00 price objective on shares of NIKE in a research note on Friday, February 7th. Barclays lowered their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Wells Fargo & Company decreased their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Robert W. Baird reduced their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Finally, Truist Financial dropped their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.62.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $77.54 on Wednesday. The firm has a fifty day simple moving average of $74.38 and a 200-day simple moving average of $78.07. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $106.62. The stock has a market capitalization of $114.70 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 2.38 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. NIKE’s revenue was down 7.7% compared to the same quarter last year. On average, sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share 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 given a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.06%. NIKE’s dividend payout ratio (DPR) 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.