PAX Financial Group LLC Reduces Holdings in NIKE, Inc. (NYSE:NKE)

PAX Financial Group LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 8.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,002 shares of the footwear maker’s stock after selling 571 shares during the quarter. PAX Financial Group LLC’s holdings in NIKE were worth $454,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NKE. Norges Bank acquired a new stake in shares of NIKE during the fourth quarter worth $1,126,288,000. Wellington Management Group LLP lifted its position in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares during the period. Pacer Advisors Inc. grew its stake in NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after purchasing an additional 6,709,985 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of NIKE by 358.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after purchasing an additional 2,357,745 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other news, 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 sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

NIKE Trading Up 2.9 %

Shares of NIKE stock opened at $57.17 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock’s 50 day simple moving average is $72.96 and its 200-day simple moving average is $76.33. The stock has a market cap of $84.57 billion, a P/E ratio of 17.65, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 1-year low of $52.50 and a 1-year high of $98.04.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NKE shares. Truist Financial reduced 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, March 21st. Robert W. Baird decreased their target price on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Piper Sandler raised 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. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 target price on shares of NIKE in a report on Monday, March 17th. 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 has an average rating of “Moderate Buy” and a consensus price target of $87.38.

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.