Montag & Caldwell LLC Cuts Position in NIKE, Inc. (NYSE:NKE)

Montag & Caldwell LLC lessened its stake in NIKE, Inc. (NYSE:NKE) by 40.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,178 shares of the footwear maker’s stock after selling 1,452 shares during the period. Montag & Caldwell LLC’s holdings in NIKE were worth $165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Range Financial Group LLC acquired a new position in shares of NIKE during the fourth quarter worth $642,000. Cacti Asset Management LLC purchased a new position in NIKE in the 4th quarter worth $9,987,000. Capricorn Fund Managers Ltd acquired a new stake in NIKE during the 4th quarter worth about $5,384,000. Klein Pavlis & Peasley Financial Inc. increased its holdings in shares of 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 purchasing an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC lifted its stake in shares of NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on 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 sale, the chairman now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Holmes Swan purchased 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of analyst reports. Barclays decreased their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Truist Financial decreased their price target on shares of NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Bank of America lowered their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Morgan Stanley cut 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. Fifteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.19.

NIKE Stock Up 1.8 %

NKE stock opened at $55.37 on Tuesday. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a fifty day moving average of $69.65 and a 200-day moving average of $74.59. The stock has a market capitalization of $81.90 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

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

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

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.