NIKE, Inc. (NYSE:NKE) Shares Sold by FAS Wealth Partners Inc.

FAS Wealth Partners Inc. lessened its holdings in NIKE, Inc. (NYSE:NKE) by 12.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,041 shares of the footwear maker’s stock after selling 1,015 shares during the quarter. FAS Wealth Partners Inc.’s holdings in NIKE were worth $533,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC lifted its holdings in shares of NIKE by 65.4% during the third quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock worth $9,332,000 after purchasing an additional 41,752 shares during the period. Confluence Investment Management LLC lifted its holdings in shares of NIKE by 6.3% during the fourth quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker’s stock worth $18,621,000 after purchasing an additional 14,592 shares during the period. Cacti Asset Management LLC acquired a new stake in shares of NIKE during the fourth quarter worth about $9,987,000. GAMMA Investing LLC lifted its holdings in shares of NIKE by 1.0% during the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock worth $1,136,000 after purchasing an additional 150 shares during the period. Finally, Modus Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter worth about $85,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 0.7 %

Shares of NKE opened at $56.80 on Friday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. 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 stock has a fifty day simple moving average of $65.10 and a two-hundred day simple moving average of $72.32. The company has a market capitalization of $84.01 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue was down 9.1% compared to the same quarter last year. During the same period last year, the business earned $0.98 earnings per share. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.82%. NIKE’s dividend payout ratio is presently 53.16%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and lifted their target price for the stock from $75.00 to $115.00 in a report on Monday, February 24th. Truist Financial decreased their target price on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a report on Friday, March 21st. Piper Sandler reduced their price target on NIKE from $90.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Citigroup reduced their price target on NIKE from $72.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price target on shares of NIKE in a research report on Monday, March 17th. Seventeen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $81.15.

Insider Buying and Selling

In related news, Director Robert Holmes Swan bought 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE 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 sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

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.