NIKE, Inc. (NYSE:NKE) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 7.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,403 shares of the footwear maker’s stock after selling 480 shares during the quarter. Sky Investment Group LLC’s holdings in NIKE were worth $485,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Garrison Point Advisors LLC raised its stake in shares of NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after buying an additional 126 shares during the last quarter. Stephens Consulting LLC grew its holdings in NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after acquiring an additional 128 shares during the period. PSI Advisors LLC raised its position in NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after acquiring an additional 130 shares in the last quarter. Chapin Davis Inc. lifted its holdings in NIKE by 1.2% in the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after acquiring an additional 133 shares during the period. Finally, Meridian Financial Partners LLC boosted its position in NIKE by 1.6% in the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after purchasing an additional 133 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NKE shares. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Guggenheim decreased their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Jefferies Financial Group upped their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Finally, Barclays dropped their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Stock Performance

NYSE NKE opened at $70.89 on Tuesday. The stock has a market cap of $104.85 billion, a PE ratio of 21.88, a P/E/G ratio of 2.25 and a beta of 1.02. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43. The stock has a fifty day simple moving average of $75.77 and a 200-day simple moving average of $77.95. 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 (NYSE:NKE) last announced its quarterly earnings results 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. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the business earned $1.03 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio is 49.38%.

About NIKE

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.