NIKE, Inc. (NYSE:NKE) Shares Sold by Cape ANN Savings Bank

Cape ANN Savings Bank cut its position in NIKE, Inc. (NYSE:NKE) by 16.8% in the fourth quarter, Holdings Channel reports. The firm owned 3,885 shares of the footwear maker’s stock after selling 786 shares during the period. Cape ANN Savings Bank’s holdings in NIKE were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Range Financial Group LLC purchased a new stake in NIKE in the fourth quarter valued at approximately $642,000. Cacti Asset Management LLC acquired a new position in shares of NIKE in the 4th quarter valued at $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in NIKE in the 4th quarter valued at $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its stake in NIKE by 31.1% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC grew its position in NIKE by 5,745.9% during the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of several recent research reports. Guggenheim reiterated a “buy” rating and set a $110.00 target price on shares of NIKE in a research note on Wednesday, February 12th. Truist Financial decreased their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Needham & Company LLC restated a “buy” rating and set a $84.00 price target on shares of NIKE in a research note on Friday, February 7th. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Finally, Barclays reduced 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 report on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated 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 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. Company insiders own 1.10% of the company’s stock.

NIKE Trading Down 0.9 %

Shares of NKE stock opened at $76.50 on Monday. The company has a market capitalization of $113.15 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.52 and a beta of 1.01. 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 firm has a 50-day moving average price of $74.31 and a 200 day moving average price of $78.16. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $106.62.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The company’s revenue was down 7.7% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, March 3rd. 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.