Philadelphia Trust Co. Decreases Position in NIKE, Inc. (NYSE:NKE)

Philadelphia Trust Co. cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 49.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 43,176 shares of the footwear maker’s stock after selling 43,041 shares during the period. Philadelphia Trust Co.’s holdings in NIKE were worth $3,267,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Range Financial Group LLC purchased a new position in NIKE in the 4th quarter valued at about $642,000. Cacti Asset Management LLC acquired a new stake in shares of NIKE during the fourth quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd acquired a new stake in NIKE in the fourth quarter valued at $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its stake in NIKE by 31.1% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after acquiring an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC grew its holdings in NIKE by 5,745.9% during the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after acquiring an additional 8,504 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction on Friday, April 4th. The shares were purchased at an average cost 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, 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. 1.10% of the stock is owned by corporate insiders.

NIKE Stock Performance

NIKE stock opened at $54.44 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market cap of $80.52 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The firm’s 50 day simple moving average is $70.03 and its 200-day simple moving average is $74.93.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.94%. The ex-dividend date was Monday, March 3rd. NIKE’s payout ratio is currently 53.16%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NKE shares. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Morgan Stanley lowered their price target on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Piper Sandler reduced their price objective on NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Friday. Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 target price on shares of NIKE in a research note on Monday, March 17th. Finally, Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Fifteen 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.19.

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.