NIKE, Inc. (NYSE:NKE) Shares Sold by Magnus Financial Group LLC

Magnus Financial Group LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 16.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,180 shares of the footwear maker’s stock after selling 2,922 shares during the period. Magnus Financial Group LLC’s holdings in NIKE were worth $1,149,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NKE. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE during the third quarter worth approximately $30,000. VitalStone Financial LLC boosted its holdings in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Dunhill Financial LLC boosted its holdings in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the last quarter. Ecofi Investissements SA purchased a new stake in shares of NIKE in the second quarter valued at $49,000. Finally, Riverview Trust Co purchased a new position in NIKE during the third quarter worth about $52,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost 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 in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on NKE. Truist Financial lowered their price target on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. UBS Group reaffirmed a “neutral” rating and set a $73.00 price target on shares of NIKE in a research report on Thursday, December 26th. Wells Fargo & Company cut their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and set a $84.00 price objective on shares of NIKE in a research note on Friday, December 20th. Finally, Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Fourteen 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. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Trading Down 0.1 %

NIKE stock opened at $73.12 on Wednesday. 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 firm’s 50-day moving average is $75.59 and its 200-day moving average is $77.91. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The company has a market cap of $108.15 billion, a P/E ratio of 22.60, a PEG ratio of 2.25 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the firm posted $1.03 EPS. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities analysts expect that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.19%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

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.