NIKE, Inc. (NYSE:NKE) Holdings Cut by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. cut its holdings in NIKE, Inc. (NYSE:NKE) by 13.7% in the fourth quarter, HoldingsChannel reports. The firm owned 13,872 shares of the footwear maker’s stock after selling 2,200 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in NIKE were worth $1,050,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NKE. Range Financial Group LLC bought a new position in NIKE in the 4th quarter worth $642,000. Cacti Asset Management LLC bought a new position in shares of NIKE in the fourth quarter worth about $9,987,000. FNY Investment Advisers LLC lifted its position in shares of NIKE by 5,745.9% during the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the last quarter. Eagle Rock Investment Company LLC boosted its stake in NIKE by 49.2% during the 4th quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock valued at $4,589,000 after purchasing an additional 19,991 shares during the period. Finally, Mirador Capital Partners LP grew its holdings in NIKE by 69.8% in the 4th quarter. Mirador Capital Partners LP now owns 72,986 shares of the footwear maker’s stock valued at $5,523,000 after buying an additional 30,011 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research analyst reports. TD Cowen cut their price target on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Telsey Advisory Group downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $93.00 to $80.00 in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Royal Bank of Canada reduced their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

Insider Activity

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated 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 completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by insiders.

NIKE Trading Down 0.3 %

NKE stock opened at $70.89 on Monday. The business has a fifty day moving average price of $75.77 and a 200 day moving average price of $77.94. 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 fifty-two week low of $70.32 and a fifty-two week high of $107.43. The stock has a market capitalization of $104.85 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates 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 last year, the company posted $1.03 earnings per share. Analysts expect that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is presently 49.38%.

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.