GGM Financials LLC Sells 298 Shares of NIKE, Inc. (NYSE:NKE)

GGM Financials LLC reduced its holdings in NIKE, Inc. (NYSE:NKE) by 8.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,364 shares of the footwear maker’s stock after selling 298 shares during the period. GGM Financials LLC’s holdings in NIKE were worth $255,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NKE. Range Financial Group LLC acquired a new position in NIKE during the 4th quarter valued at $642,000. Cacti Asset Management LLC acquired a new position in shares of NIKE during the fourth quarter valued at about $9,987,000. Capricorn Fund Managers Ltd bought a new stake in shares of NIKE in the fourth quarter valued at about $5,384,000. Klein Pavlis & Peasley Financial Inc. grew its position in NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after buying an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC increased its stake in NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after acquiring an additional 8,504 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.

NIKE Price Performance

NIKE stock opened at $68.69 on Monday. The stock has a market cap of $101.60 billion, a price-to-earnings ratio of 21.20, a P/E/G ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 12-month low of $68.62 and a 12-month 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 business’s 50-day simple moving average is $75.12 and its 200 day simple moving average is $78.04.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping 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 company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the company earned $1.03 EPS. NIKE’s revenue was down 7.7% on a year-over-year basis. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given 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 dividend yield of 2.33%. NIKE’s payout ratio is presently 49.38%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NKE shares. Needham & Company LLC reissued a “buy” rating and set a $84.00 price objective on shares of NIKE in a report on Friday. BMO Capital Markets lifted their price target on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Finally, Evercore ISI dropped their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

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.