iA Global Asset Management Inc. Sells 24,408 Shares of NIKE, Inc. (NYSE:NKE)

iA Global Asset Management Inc. decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 83.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,016 shares of the footwear maker’s stock after selling 24,408 shares during the period. iA Global Asset Management Inc.’s holdings in NIKE were worth $380,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of NKE. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the 4th quarter valued at about $28,000. Caitlin John LLC boosted its stake in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE during the 3rd quarter valued at about $30,000. Roxbury Financial LLC purchased a new position in NIKE during the 4th quarter valued at about $30,000. Finally, LFA Lugano Financial Advisors SA lifted its position in 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 acquiring an additional 210 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 5.4 %

Shares of NKE stock opened at $68.02 on Friday. NIKE, Inc. has a 12 month low of $65.17 and a 12 month high of $98.04. The stock has a market cap of $100.60 billion, a P/E ratio of 20.99, a P/E/G 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. The company has a 50 day simple moving average of $74.70 and a two-hundred day simple moving average of $77.43.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.35%. NIKE’s dividend payout ratio is currently 53.16%.

Analysts Set New Price Targets

NKE has been the subject of a number of recent research reports. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Truist Financial lowered their price target on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Friday. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Needham & Company LLC lowered their price target on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $80.00 price target on shares of NIKE in a research report on Monday, March 17th. Fifteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average target price of $87.38.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

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.