Kimelman & Baird LLC Sells 10,133 Shares of NIKE, Inc. (NYSE:NKE)

Kimelman & Baird LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 178,175 shares of the footwear maker’s stock after selling 10,133 shares during the quarter. NIKE comprises about 1.1% of Kimelman & Baird LLC’s investment portfolio, making the stock its 29th biggest position. Kimelman & Baird LLC’s holdings in NIKE were worth $13,483,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Heck Capital Advisors LLC purchased a new position in NIKE in the fourth quarter worth about $28,000. Caitlin John LLC grew its position in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in NIKE in the third quarter worth about $30,000. Roxbury Financial LLC purchased a new position in NIKE in the fourth quarter worth about $30,000. Finally, LFA Lugano Financial Advisors SA grew its position in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents 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 owned by insiders.

NIKE Stock Performance

Shares of NKE stock opened at $71.72 on Monday. The business’s fifty day simple moving average is $74.68 and its 200-day simple moving average is $77.77. The company has a market cap of $106.08 billion, a PE ratio of 22.14, a PEG ratio of 2.52 and a beta of 1.02. 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 12-month low of $68.62 and a 12-month high of $101.92.

NIKE (NYSE:NKE) last issued its quarterly 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. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $1.03 earnings per share. Analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal 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 given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Guggenheim reiterated a “buy” rating and issued a $110.00 price target on shares of NIKE in a research report on Wednesday, February 12th. Stifel Nicolaus dropped their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Truist Financial dropped their target price on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and dropped their target price for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Finally, Robert W. Baird dropped their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average price target of $89.69.

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.