NIKE, Inc. (NYSE:NKE) Shares Sold by Investors Research Corp

Investors Research Corp decreased its stake in NIKE, Inc. (NYSE:NKE) by 1.5% in the 4th quarter, Holdings Channel reports. The firm owned 11,877 shares of the footwear maker’s stock after selling 175 shares during the quarter. Investors Research Corp’s holdings in NIKE were worth $899,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Pacer Advisors Inc. raised its position in NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after acquiring an additional 6,709,985 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of NIKE by 1,209,638.7% during the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after buying an additional 6,507,856 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after buying an additional 3,121,929 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of NIKE by 358.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after buying an additional 2,357,745 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of NIKE during the fourth quarter worth about $156,438,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 1.3 %

NKE opened at $78.68 on Monday. The stock has a market capitalization of $116.38 billion, a PE ratio of 24.28, a P/E/G ratio of 2.52 and a beta of 1.02. The firm’s fifty day moving average price is $74.76 and its 200 day moving average price is $78.14. 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, Inc. has a 12-month low of $68.62 and a 12-month high of $102.49.

NIKE (NYSE:NKE) last posted 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 for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. As a group, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.03%. NIKE’s payout ratio is 49.38%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NKE. Morgan Stanley lowered their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Truist Financial lowered their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Guggenheim restated a “buy” rating and issued a $110.00 target price on shares of NIKE in a report on Wednesday, February 12th. Evercore ISI lowered their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Fourteen 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.77.

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.