NIKE, Inc. (NYSE:NKE) Shares Sold by Country Club Bank

Country Club Bank reduced its stake in NIKE, Inc. (NYSE:NKE) by 8.5% during the 4th quarter, Holdings Channel reports. The fund owned 73,080 shares of the footwear maker’s stock after selling 6,762 shares during the quarter. Country Club Bank’s holdings in NIKE were worth $5,455,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NKE. Heck Capital Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter valued at $28,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE in the third quarter valued at $30,000. VitalStone Financial LLC raised its stake in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Dunhill Financial LLC raised its stake in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after acquiring an additional 169 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in shares of NIKE in the third quarter valued at $52,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Up 0.3 %

NKE stock opened at $76.79 on Wednesday. The company has a market cap of $113.57 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 2.50 and a beta of 1.01. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $75.54 and a 200-day simple moving average of $78.09. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion during 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 firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. On average, equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NKE shares. Evercore ISI reduced their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. UBS Group restated a “neutral” rating and issued a $73.00 price target on shares of NIKE in a research note on Thursday, December 26th. JPMorgan Chase & Co. cut their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Morgan Stanley cut their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and raised their price target for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.77.

NIKE Company 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.