Oakworth Capital Inc. Trims Stake in NIKE, Inc. (NYSE:NKE)

Oakworth Capital Inc. trimmed its position in NIKE, Inc. (NYSE:NKE) by 34.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,361 shares of the footwear maker’s stock after selling 705 shares during the quarter. Oakworth Capital Inc.’s holdings in NIKE were worth $103,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NKE. Klein Pavlis & Peasley Financial Inc. lifted its stake in NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after acquiring an additional 6,124 shares during the period. Silver Oak Securities Incorporated raised its holdings in shares of NIKE by 15.9% in the 4th quarter. Silver Oak Securities Incorporated now owns 3,329 shares of the footwear maker’s stock valued at $248,000 after purchasing an additional 456 shares in the last quarter. Financial Advocates Investment Management lifted its position in shares of NIKE by 10.6% in the 4th quarter. Financial Advocates Investment Management now owns 19,673 shares of the footwear maker’s stock worth $1,489,000 after purchasing an additional 1,886 shares during the period. Caitlin John LLC boosted its stake in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Finally, Absher Wealth Management LLC raised its stake in NIKE by 1.3% in the fourth quarter. Absher Wealth Management LLC now owns 392,020 shares of the footwear maker’s stock worth $29,664,000 after buying an additional 5,167 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Truist Financial cut their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. TD Cowen decreased their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Bank of America cut their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Morgan Stanley decreased their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $89.77.

NIKE Stock Performance

Shares of NKE stock opened at $71.75 on Friday. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market cap of $106.13 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The business has a 50-day simple moving average of $75.45 and a 200-day simple moving average of $78.10.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) 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 the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 earnings per share. On average, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. NIKE’s dividend payout ratio is 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.