Whittier Trust Co. of Nevada Inc. Sells 4,338 Shares of NIKE, Inc. (NYSE:NKE)

Whittier Trust Co. of Nevada Inc. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,129 shares of the footwear maker’s stock after selling 4,338 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in NIKE were worth $4,701,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Heck Capital Advisors LLC bought a new position in shares of NIKE in the 4th quarter valued at about $28,000. Caitlin John LLC raised its position in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE in the 3rd quarter valued at approximately $30,000. Roxbury Financial LLC purchased a new position in shares of NIKE in the 4th quarter worth approximately $30,000. Finally, LFA Lugano Financial Advisors SA increased its position in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after purchasing an additional 210 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 5.4 %

Shares of NIKE stock opened at $68.02 on Friday. NIKE, Inc. has a 52-week low of $65.17 and a 52-week high of $98.04. The firm’s 50 day moving average price is $74.70 and its 200-day moving average price is $77.46. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market cap of $100.60 billion, a P/E ratio of 20.99, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.35%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is presently 49.38%.

Analyst Upgrades and Downgrades

Several research analysts have commented on NKE shares. 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. Truist Financial cut their price target on shares of NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, BMO Capital Markets decreased their price target on NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.38.

Insider Transactions 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 bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction 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 transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

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.