Gladstone Institutional Advisory LLC Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Gladstone Institutional Advisory LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 39.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,987 shares of the footwear maker’s stock after selling 5,131 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in NIKE were worth $604,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of NKE. Range Financial Group LLC acquired a new position in shares of NIKE in the fourth quarter worth $642,000. Cacti Asset Management LLC acquired a new position in NIKE during the 4th quarter worth $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in NIKE during the 4th quarter worth about $5,384,000. Klein Pavlis & Peasley Financial Inc. raised its position in NIKE by 31.1% in 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 boosted 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 buying an additional 8,504 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $73.02 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 firm has a market cap of $108.00 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. The firm’s fifty day moving average price is $74.58 and its 200 day moving average price is $78.00. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $107.34.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 earnings per share. On average, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. NIKE’s dividend payout ratio is currently 49.38%.

Wall Street Analyst Weigh In

NKE has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Stifel Nicolaus reduced their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. TD Cowen lowered their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Finally, Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

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.