NIKE, Inc. (NYSE:NKE) Shares Sold by Cedar Mountain Advisors LLC

Cedar Mountain Advisors LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 15.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 8,025 shares of the footwear maker’s stock after selling 1,499 shares during the period. Cedar Mountain Advisors LLC’s holdings in NIKE were worth $607,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Public Sector Pension Investment Board raised its stake in shares of NIKE by 71.5% during the second quarter. Public Sector Pension Investment Board now owns 46,500 shares of the footwear maker’s stock valued at $3,505,000 after purchasing an additional 19,390 shares during the period. Dark Forest Capital Management LP purchased a new stake in NIKE during the 2nd quarter worth $333,000. MBB Public Markets I LLC lifted its holdings in NIKE by 2,986.8% in the 2nd quarter. MBB Public Markets I LLC now owns 84,640 shares of the footwear maker’s stock worth $6,379,000 after buying an additional 81,898 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in NIKE by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 841,006 shares of the footwear maker’s stock valued at $63,409,000 after buying an additional 4,347 shares during the last quarter. Finally, Luxor Capital Group LP acquired a new stake in shares of NIKE during the second quarter valued at about $226,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on NKE. Truist Financial cut their price target on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Stifel Nicolaus cut their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. UBS Group reissued a “neutral” rating and set a $73.00 price target on shares of NIKE in a research report on Thursday, December 26th. TD Cowen cut their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Finally, Jefferies Financial Group raised their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $73.60 on Friday. The company has a 50 day moving average price of $75.45 and a two-hundred day moving average price of $77.86. NIKE, Inc. has a 12-month low of $70.32 and a 12-month high of $107.43. The stock has a market capitalization of $108.86 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the company posted $1.03 earnings per share. NIKE’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, equities analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is currently 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.