NIKE, Inc. (NYSE:NKE) Shares Sold by Fairfield Financial Advisors LTD

Fairfield Financial Advisors LTD cut its stake in NIKE, Inc. (NYSE:NKE) by 50.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 671 shares of the footwear maker’s stock after selling 684 shares during the quarter. Fairfield Financial Advisors LTD’s holdings in NIKE were worth $51,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. M&G PLC increased its position in shares of NIKE by 0.9% during the 3rd quarter. M&G PLC now owns 35,768 shares of the footwear maker’s stock worth $3,148,000 after purchasing an additional 305 shares during the last quarter. Western Pacific Wealth Management LP increased its position in shares of NIKE by 0.3% during the 3rd quarter. Western Pacific Wealth Management LP now owns 609,238 shares of the footwear maker’s stock worth $53,857,000 after purchasing an additional 2,012 shares during the last quarter. Mainstream Capital Management LLC acquired a new stake in shares of NIKE during the 3rd quarter worth about $749,000. Confluence Investment Management LLC increased its position in shares of NIKE by 1.1% during the 3rd quarter. Confluence Investment Management LLC now owns 231,488 shares of the footwear maker’s stock worth $20,464,000 after purchasing an additional 2,516 shares during the last quarter. Finally, Sittner & Nelson LLC increased its position in shares of NIKE by 7.6% during the 3rd quarter. Sittner & Nelson LLC now owns 28,430 shares of the footwear maker’s stock worth $2,513,000 after purchasing an additional 2,013 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. DA Davidson raised NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Truist Financial dropped their target price on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, TD Cowen dropped their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Fourteen research 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business’s 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 transaction, the chairman now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

NIKE Price Performance

Shares of NYSE NKE opened at $78.68 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $102.49. The stock has a 50 day moving average of $74.76 and a two-hundred day moving average of $78.21. The stock has a market cap of $116.38 billion, a P/E ratio of 24.28, a P/E/G ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last issued 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 return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is currently 49.38%.

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.