Global Retirement Partners LLC Sells 1,971 Shares of NIKE, Inc. (NYSE:NKE)

Global Retirement Partners LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 9.8% during the fourth quarter, Holdings Channel reports. The fund owned 18,188 shares of the footwear maker’s stock after selling 1,971 shares during the period. Global Retirement Partners LLC’s holdings in NIKE were worth $1,376,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NKE. Garrison Point Advisors LLC grew its holdings 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 purchasing an additional 126 shares during the last quarter. PSI Advisors LLC boosted 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 buying an additional 130 shares during the period. JNBA Financial Advisors grew its stake in shares of NIKE by 1.3% during the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after buying an additional 131 shares during the last quarter. Frisch Financial Group Inc. increased its holdings in shares of NIKE by 4.7% in the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock worth $269,000 after buying an additional 136 shares during the period. Finally, Nations Financial Group Inc. IA ADV lifted its stake in shares of NIKE by 0.7% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after acquiring an additional 136 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Bank of America reduced their price target on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price target on shares of NIKE in a report on Friday, February 7th. Morgan Stanley cut their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Finally, Truist Financial decreased their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.62.

NIKE Stock Down 0.9 %

Shares of NIKE stock opened at $76.50 on Friday. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $106.62. The firm has a market cap of $113.15 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.50 and a beta of 1.01. The company has a 50-day moving average of $74.31 and a 200 day moving average of $78.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last announced its 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. 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 the consensus estimate of $12.11 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

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.