NIKE, Inc. (NYSE:NKE) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC decreased its stake in NIKE, Inc. (NYSE:NKE) by 0.4% in the 4th quarter, Holdings Channel reports. The firm owned 181,962 shares of the footwear maker’s stock after selling 666 shares during the quarter. New York Life Investment Management LLC’s holdings in NIKE were worth $13,769,000 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 the stock. Heck Capital Advisors LLC acquired a new stake in shares of NIKE during the 4th quarter valued at approximately $28,000. Caitlin John LLC boosted its position in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE in the third quarter valued at $30,000. Roxbury Financial LLC purchased a new position in shares of NIKE in the fourth quarter valued at $30,000. Finally, BankPlus Trust Department purchased a new stake in shares of NIKE in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Down 1.6 %

NKE opened at $79.86 on Friday. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $105.57. The firm has a 50 day moving average price of $74.59 and a 200 day moving average price of $78.29. 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 market cap of $118.13 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its earnings results 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 business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the previous year, the business posted $1.03 EPS. The business’s quarterly revenue was down 7.7% on a year-over-year basis. Sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.00%. NIKE’s payout ratio is currently 49.38%.

Insiders Place Their Bets

In other 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 transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $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 SEC, which is available at this hyperlink. Also, Director John W. Rogers, Jr. purchased 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 owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on NKE. Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and lowered their price target for the company from $102.00 to $72.00 in a research report on Friday, February 7th. 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. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Morgan Stanley reduced their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, Truist Financial dropped their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.