Mutual of America Capital Management LLC Cuts Position in NIKE, Inc. (NYSE:NKE)

Mutual of America Capital Management LLC lowered its position in NIKE, Inc. (NYSE:NKE) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,711 shares of the footwear maker’s stock after selling 5,316 shares during the period. Mutual of America Capital Management LLC’s holdings in NIKE were worth $10,799,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NKE. Pinnacle Associates Ltd. grew its stake in NIKE by 10.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 26,403 shares of the footwear maker’s stock valued at $2,334,000 after acquiring an additional 2,510 shares during the last quarter. Lowe Brockenbrough & Co. Inc. lifted its holdings in shares of NIKE by 3.4% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 10,530 shares of the footwear maker’s stock valued at $935,000 after purchasing an additional 350 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of NIKE by 13.9% in the third quarter. Farther Finance Advisors LLC now owns 33,974 shares of the footwear maker’s stock valued at $3,004,000 after purchasing an additional 4,134 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of NIKE by 10.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,586 shares of the footwear maker’s stock worth $582,000 after purchasing an additional 614 shares in the last quarter. Finally, Fullcircle Wealth LLC raised its position in shares of NIKE by 2.1% during the 3rd quarter. Fullcircle Wealth LLC now owns 8,833 shares of the footwear maker’s stock worth $781,000 after purchasing an additional 181 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NKE shares. Guggenheim reissued a “buy” rating and set a $110.00 price target on shares of NIKE in a research report on Wednesday, February 12th. Truist Financial dropped 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. UBS Group reaffirmed a “neutral” rating and set a $73.00 price target on shares of NIKE in a research note on Thursday, December 26th. Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a research report on Wednesday, February 19th. Finally, Morgan Stanley decreased their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.77.

NIKE Trading Down 0.7 %

NYSE:NKE opened at $79.43 on Friday. The business’s 50-day moving average is $74.64 and its two-hundred day moving average is $78.32. The firm has a market capitalization of $117.49 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $105.57. 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 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS. Research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.01%. NIKE’s payout ratio is currently 49.38%.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost 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 in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction 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 the stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 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.